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Bank of Jiangsu's still-to-come IPO to raise most likely RMB10 bln

2015-07-02 10:47

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Bank of Jiangsu could raise most likely 10 billion yuan through IPO, an unnamed source familiar with the matter told Shanghai Securities News Thursday, refuting earlier reports that said the bank's IPO would raise up to 40 billion yuan.

Bank of Jiangsu's IPO has been widely covered by media after China Securities Regulatory Commission, China's top securities regulator, approved the IPO application by the bank on Wednesday.

The Shanghai Securities News said Bank of Jiangsu wouldn't launch the IPO right away as the company still has a lot to do before officially initiating the IPO launch.

In June, Bank of Jiangsu said in a prospectus that it planned to sell as many as 2.6 billion shares in its IPO on the Shanghai Stock Exchange.

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