NewHuishang Bank proposes mainland China listing

Huishang Bank, an Anhui province-based lender, has proposed an A shares offering, the bank said on Wednesday in a regulatory filing to the Hong Kong Stock Exchange.

Huishang will issues no more than 1.2 billion shares. The listing would be used to replenish the bank’s core tier-1 capital.

The bank raised US$1.3 billion in an initial public offering in Hong Kong in 2013.

For 2014, Huishang reported 15 per cent growth in net profit to 5.7 billion yuan (HK$7.1 billion). Its non-performing loan ratio has remained low at 0.83 per cent.