Photo/Shetuwang

Dec. 17 (NBD) -- Bank of Guizhou is expected to ring the bell at the Hong Kong stock exchange on December 30 of this year, according to a regulatory filing released Monday.

A total of 2.2 billion H shares will be offered in the float, of which 1.98 billion will be for international offering and 220 million for the Hong Kong offering. The offer price will not be more than HKD2.61 (33 cents) per share, and is currently expected to be no less than HKD2.46 each. 

Founded in Guiyang in 2012 by merging three city commercial banks, Bank of Guizhou has an extensive distribution network covering the entire Guizhou province. As of June 30, 2019, the bank has operated eight branches and 207 sub-branches. 

According to the Post Hearing Information Pack, Bank of Guizhou registered fast growth in terms of assets and net profit, with a compound annual growth rate being 22.1 percent and 21.1 percent, respectively. In the six months ended June 30, 2019, its net profit increased to around 1.8 billion yuan from approximately 1.5 billion during the same period of 2018.

With the expansion of the business, the bank is facing pressure in securing new capital. Its core tier-one capital adequacy ratio, tier-one capital adequacy ratio and capital adequacy ratio as of June 30, 2019 all represented slight decrease from the levels recorded in late 2018.  

Email: gaohan@nbd.com.cn