Xiamen International Bank has applied to the People's Bank of China to list in Hong Kong, says vice-chairman Chen Yuankui.
'An application for a Hong Kong listing has been submitted to the central bank and preparatory work has already been undertaken,' he said.
Xiamen International is China's first Sino-foreign joint-venture bank. It plans to list directly and will make no changes to its shareholding structure, Mr Chen said.
Hong Kong-listed Min Xin Holdings is the bank's largest shareholder with a 36.75 per cent stake, followed by Industrial and Commercial Bank of China's Fujian provincial branch, with 18.75 per cent.
Fujian Investment and Enterprise Corp hold 12 per cent; Asian Development Bank and Long-Term Credit Bank of Japan each have 10 per cent; Xiamen Construction and Development Corp own 7.5 per cent; and Sino Finance Group from the United States hold the remaining 5 per cent.
Mr Chen said the bank planned to broaden its mainland asset base with the proceeds from the listing.
