SHANGHAI PUDONG DEVELOPMENT BANK CONSIDERS FUNDRAISING
AsiaInfo Services, February, 2008
AsiaInfo Services 02-22-2008 Shanghai Pudong Development Bank Considers Fundraising SHANGHAI, Feb 22, 2008 (SinoCast via COMTEX) -- Shanghai Pudong Development Bank Co., Ltd. (SHSE: 600000) clarified on February 20, 2008 that it was still mulling the plan of fundraising via a public offering and had not reached any final decision by far, in response to a rumored CNY 40 billion share issuance. The bank noted that it would use the raised fund to enrich its core capital.
The plan will be subject to approval from the board at February-end. Besides, the bank is operating normally and the executives are carrying out duties as usual. Informed people said that the bank would raise money via share offering only and how much money it will raise has not been determined. The...
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