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Minsheng forms panel to probe tampering

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China Minsheng Banking Corp will form an independent team to investigate the falsifying of a document in its domestic listing in 2000.

The move is seen as an attempt to prevent the issue casting a pall over the lender's looming US$1 billion listing in Hong Kong.

The mainland's sole private lender, which has A shares listed in Shanghai, said the four-member team would comprise three existing independent board directors and a fourth person from overseas who had yet to be appointed.

The board made the decision yesterday following the bank's admission last week that staff had tampered with a document.

The bank told the Shanghai Stock Exchange that officials preparing for a listing in 2000 held a temporary board meeting to approve a name change, then faked a resolution purporting to be from a shareholders' meeting to meet registration requirements.

A shareholders' meeting in 1999 had approved the name change, Minsheng said. Officials were unaware of that approval, which was not registered with regulators.

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