Top Page | English | 简体中文 | 繁體中文 | 한국어 | 日本語
Tuesday, 28 November 2017, 13:37 HKT/SGT
Share:
Shandong International Trust starts Hong Kong's IPO as the first for 23 years

HONG KONG, Nov 28, 2017 - (ACN Newswire) - Shandong International Trust Co., Ltd.(1697 HK.) today announces the details of its global offering plan and the listing of its H shares on the Main Board of The Stock Exchange of Hong Kong Limited, being the first Chinese trust company to attempt an IPO in more than two decades and the first to list in Hong Kong. BoCom international, CCB International and Haitong International are joint sponsors.

According to the Prospectus, the shares are slated for pricing on December 1 and the trading will start on December 8. The Offer Price ranges between HK$4.46 and HK$5.43 per H Share.

As a comprehensive financial and wealth management service provider in China, Shandong International Trust utilizes the Company's trust products to provide diversified financing and investment services. Licensed by the CBRC, the Company is permitted to provide financing and investing solutions across the real economy, capital markets and money markets in China.

Shandong International Trust was ranked 6th among all trust companies the controlling shareholders of which have local government background and ranked 25th among all trust companies in China in terms of total trust assets in 2016 according to Wind Info. In accordance with the Prospectus, the Company was rated "Class A" (the highest rating attainable) in the industry-wide rating organized by the China Trustee Association under the supervision of the CBRC for the years of 2015 and 2016 based on comprehensive assessment of the capital strength, risk management, incremental value and social responsibility. The Company was rated "Excellent (AAA)" (the highest rating attainable) in the performance assessment of all local financial institutions in Shandong organized by the Shandong Provincial Finance Bureau in 2016 based on comprehensive assessment of the profitability, asset quality, liquidity and business growth.

Shandong International Trust has successfully withstood economic and market fluctuations over the past few years and achieved rapid growth. The trust AUM of all the Company's trusts increased from RMB 112,392 million as of December 31,2011 to RMB to RMB 254,637 million as of December 31, 2016, representing a CAGR of 17.8% and remained almost unchanged at RMB254,499 million as of 31 May 2017.

Lucion Group, the Company's Controlling Shareholder, is one of the most important investment and financing platforms of the Shandong provincial government and holds investments in a wide variety of industries such as financial services, venture capital, culture and media, tourism, infrastructure, real estate, energy and technologies, and has achieved full coverage of finance, investment, industry and commerce. The strong background of existing shareholders and their abundant resources and expansive business networks created significant synergies with the Company's business and provided strong support for the development of the Company's business.

"In the future, we intend to continue to strengthen our traditional business while formulating a strategic layout for future development, enhancing our active management capabilities, capturing new business opportunities through continuous innovation and implementing risk control on our business under an optimized internal management system." Said Ms. Wang Yingli, the Chairperson of the Company at the press conference, "Our goal is to build up our brand image as a high-quality, top-notch and trustworthy financial service provider."



Nov 28, 2017 13:37 HKT/SGT
Topic: Press release summary
Sectors: Daily Finance, Daily News
http://www.acnnewswire.com
From the Asia Corporate News Network


Copyright © 2017 ACN Newswire. All rights reserved. A division of Asia Corporate News Network.


Multimedia
Ms. Wang Yingli, the Chairperson of Shandong International Trust Co., Ltd., says the Company's goal is to build up brand image as a high-quality, top-notch and trustworthy financial service provider.
View Image
 

Latest Press Releases
mybitwallet introduces 24/7 currency exchange services  
Dec 13, 2017 18:30 HKT/SGT
Toyota and Panasonic to Start Feasibility Study of Joint Automotive Prismatic Battery Business  
Dec 13, 2017 17:04 HKT/SGT
CASBAA Lauds Indian Ease of Doing Business; Calls for Policy Reforms for Broadcast & Satellite Industries  
Dec 13, 2017 17:00 HKT/SGT
DHL and Air Hong Kong extend their relationship with a new 15-year agreement  
Dec 13, 2017 17:00 HKT/SGT
Eisai's Aricept Approved for Additional Indication of Severe Alzheimer's Disease in China  
Dec 13, 2017 15:59 HKT/SGT
Yahoo unveils 2017 Year in Review for Singapore  
Dec 13, 2017 14:30 HKT/SGT
CUHK Business School Launches Master in Management Program to Equip Young Graduates for the Digital Age  
Dec 13, 2017 13:00 HKT/SGT
Rakuten Announces Accelerator Program, powered by Techstars  
Dec 13, 2017 11:30 HKT/SGT
CIFI Successfully Issues New US$300 Million Senior Perpetual Securities at Distribution Rate of 5.375% p.a.  
Dec 13, 2017 10:00 HKT/SGT
Cloud Computing Empowers Healthcare Institutions in Asia Pacific  
Dec 13, 2017 10:00 HKT/SGT
More Press release >>
 News Alerts
Copyright © 2017 ACN Newswire - Asia Corporate News Network
Home | About us | Services | Partners | Events | Login | Contact us | Privacy Policy | Terms of Use | RSS
US: +1 800 291 0906 | Beijing: +86 10 8405 3688 | Hong Kong: +852 2217 2912 | Singapore: +65 6304 8926 | Tokyo: +81 3 6721 7212

Connect With us: