Bank of Guizhou pre-markets IPO

IFR 2299 7 September to 13 September 2019
Quick read
Asia

Bank of Guizhou started pre-marketing a Hong Kong IPO of up to US$1bn last Monday.

The Chinese lender was formed in 2012 through the merger of three commercial lenders in China’s south-western Guizhou province.

It posted a net profit of Rmb957.4m (US$139m) for the first quarter of 2019 on net interest income of Rmb2.34bn. Its net profit for full-year 2018 was Rmb2.87bn. Its total assets stood at Rmb362bn as of March.

Guizhou Provincial Finance Bureau is the largest shareholder in Bank of Guizhou with a 14.3% stake. Spirits maker China Kweichow Moutai Winery is the second largest with 14.1%.

ABC International, CCB International and CLSA are the sponsors.