Home / Markets / Industries / Finance
Friday, March 12, 2010
Guangdong Development Bank To Pursue IPO In 2010 - Xinhua
Dow Jones Newswires
SHANGHAI -(Dow Jones)- Guangdong Development Bank, in which Citigroup Inc (C) has a 20% stake, will pursue an initial public offering this year to help finance its rapid expansion in the next few years, the state-run Xinhua News Agency reported Friday, citing bank President Michael Zink.
The mid-sized bank is studying the details of the listing, including the size, timing and the venue, Xinhua said, citing Zink.
Zink said Guangdong Development Bank will focus its outlet expansion in the Yangtze River Delta and the Bohai Rim in the next few years, according to the report.
Guangdong Development Bank reported a 22% rise in net profit for 2009, said the report, without giving a specific figure.
-Rose Yu contributed to this article, Dow Jones Newswires; 8621 6120-1200; rose.yu@dowjones.com
Copyright © 2009 Dow Jones Newswires
Fox Business Video
-
-
Obama Vows He Will Continue Sp...
-
Sep 8, 2010
Kicking off: Obama Will Spend More
-
-
-
Malpass on Impact of Higher Taxes
-
Sep 8, 2010
Can Obama raise taxes and help America?
-
-
-
NFL's Most Toxic Assets
-
Sep 8, 2010
Power Rankings: NFL teams on the way down
-
-
-
Cavuto: Cleveland Rocks, Obama...
-
Sep 8, 2010
Cavuto's Deal: Obama's latest incentive plan
-
-
-
Gray Davis: We Need to Do What...
-
Sep 8, 2010
Former Calif. Governor on Obama's plans for economic stimulus
-