Aug 18, 2021 (China Knowledge) - Shanghai Rural Commercial Bank (601825) to start trading on the Shanghai Stock Exchange's Main Board Aug 19, tomorrow. The firm has issued 964.44 mln shares priced at RMB 8.9 per share raising RMB 8.58 bln. Its price-to-earnings ratio (PE) stands at 10.65. During subscription the IPO was 475 times oversubscribed.
Haitong Securities, Guotai Junan Securities, CITIC Securities acted as the lead underwriter, and Haitong Securities, Guotai Junan Securities served as the sponsor for the IPO.
Shanghai Rural Commercial Bank operates banking businesses. The Company offers deposits, loans, settlement, wealth management, investment, and online banking services. Shanghai Rural Commercial Bank also conducts credit guarantee and safe deposit box businesses.
In FY 2020, Shanghai Rural Commercial Bank garnered a total revenue of RMB 22.04 bln, up 4% YoY. In terms of net income, it achieved RMB 8.42 bln, falling 6% YoY. In H1 2021, the company reported revenue of RMB 12.02 bln, a YoY increase of 7%, and its net profits reached RMB 5.30 bln, up 17% YoY.
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