On 19 September 2018, the Bank of Zhengzhou (stock code: 002936.SZ) successfully launched its A-share debut on the Shenzhen Stock Exchange, becoming China's first city commercial bank which floats its shares both in Hong Kong and mainland China. At this public offering, the Bank of Zhengzhou issued 600 million A-shares at RMB4.59 per share, raising RMB 2.754 billion in total.
As one of the Tier-1 city commercial banks in term of scale and influence, the Bank of Zhengzhou has been assigned an AAA issuer rating by China Chengxin International Credit Rating Company, amongst the 15 highest-ranked city commercial banks. All of its major indicators are up to regulatory standards.
King & Wood Mallesons acted as legal counsel to the Bank of Zhengzhou for the project. We assisted the client throughout the entire listing process including filing and response to regulatory comments. We provided a comprehensive, targeted and efficient solution to tackle various legal issues. This is the third time KWM has successfully acted for the client following its Hong Kong IPO in 2015 and its preferred share offering in offshore capital markets in 2017. The project was led by partners Su Zheng and Li Yuanyuan.
