SHINEWING successfully assisted the first banking IPO in 2018 – Bank of Gansu Co., Ltd. to go listed in Hong Kong
[Hong Kong, Jan 2018] SHINEWING successfully assisted Bank of Gansu Co., Ltd. (Stock Code: 2139) (“Bank of Gansu”) to go listed on the Main Board of The Stock Exchange of Hong Kong Limited on 18 January 2018. As the first IPO case in banking industry in 2018, Bank of Gansu raised net proceeds of approximately HK$5.74 billion. Bank of Gansu submitted listing application in mid-September 2017, and issued the prospectus on 30 December 2017. It was successfully listed on 18 January 2018.

This is the third sizable H-share IPO case in financial services industry achieved by SHINEWING after the listing projects of China Merchants Securities Co., Ltd. in 2016 and Jilin Jiutai Rural Commercial Bank Corporation Limited in 2017. These successful cases show the capabilities and experience of SHINEWING in providing services to sizable financial institutions (including securities firm, provincial city commercial bank and rural commercial bank).

There are 5 joint sponsors in this IPO project, namely CMB International Capital Limited, CCB International Capital Limited, Huatai Financial Holdings (Hong Kong) Limited, Guotai Junan Capital Limited and BOCI Asia Limited. SHINEWING worked together with teams of over 150 members from 5 independent sponsors and more than 10 professional parties. This demonstrated that our service capabilities are up to international level and we receive recognition by the professional organizations.

This IPO project is jointly completed by the financial services teams of SHINEWING Hong Kong and China. The core team, from different areas of professional expertise, has extensive experience. The teams combine knowledge across different regions and collaborate under a unified approach. We effectively assisted the client to solve the issues concerning audit, tax, internal control, information technology and corporate governance, encountered in the jurisdictions of Hong Kong and China during the listing process.

Roy Lo, Managing Partner of SHINEWING Hong Kong, Andy Wong, Engagement Partner and IPO Leader of SHINEWING Hong Kong, and Zhang Yuhu, Engagement Partner of SHINEWING China attended the listing ceremony on 18 January 2018.

We take this opportunity to thank Bank of Gansu, sponsors and all professional parties for their recognition and trust, as well as their full support and coordination during the IPO process. We also take the chance to express our appreciation to all team members of SHINEWING in China and Hong Kong for their work, contribution and commitment in this IPO project. We wish Bank of Gansu a continuing success in future.

Background of Bank of Gansu Co., Ltd.
Bank of Gansu is the only provincial city commercial bank in Gansu province, China. As of 30 June 2017, the net assets of Bank of Gansu was RMB15.37 billion. As the only provincial city commercial bank in Gansu province, it benefits from the economic development of Gansu and the support of the Gansu government, with a leading growth rate among city commercial banks in the PRC based on total assets.