Bank of Jiangsu readies landmark A-share IPO

The provincial Chinese bank would be the first city commercial lender to go public in Shanghai since 2007.
Nanjing Confucius Temple scenic region and Qinhuai River, Jiangsu province
Nanjing Confucius Temple scenic region and Qinhuai River, Jiangsu province

Bank of Jiangsu is set next week launch its long-awaited A-share initial public offering, which is likely to be mainland China's largest flotation so far this year and the first in Shanghai by a city commercial lender since 2007.

After cutting the size of its planned offering in keeping with regulator efforts to maintain market stability, the Nanjing-based bank now intends to raise about Rmb7.24 billion $1.08 billion by issuing about 1.15 billion new shares, or up to 10% of its enlarged stock capital, one equity capital markets banker familiar with the matter said on Tuesday.

The amount of capital targeted by the Chinese...

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