Apr. 23, 2012 (China Knowledge) - Bank of Shanghai, a Chinese city commercial lender, is considering launching its initial public offerings both in Shanghai and Hong Kong with a total fundraising of more than RMB 30 billion or around US$4.76 billion, sources reported.

The lender plans to issue not more than 1.2 billion H-shares on the Hong Kong Stock Exchange, accounting for more than 15% of its enlarged shares, and award bookrunner the rights to exercise the over-allotment option to issue additional 15% H shares.

In addition, Bank of Shanghai has submitted an application to the China Securities Regulatory Commission to start IPO in Shanghai by issuing not more than 1.2 billion A-shares.

As of Dec. 31, 2011, the lender had 11.75% in capital adequacy ratio, 1.05 percentage points higher than the end of 2010. Core capital adequacy ratio declined by 0.18% to 8.74% at the end of last year. The city commercial bank's total assets reached RMB 655.8 billion as of Dec. 31, 2011, 15.71% more than the end of 2010.

Last year, Bank of Shanghai reaped RMB 5.81 billion in net profit, up 15.47% from a year earlier, and its operating revenue increased 9.37% year on year to RMB 14.16 billion.