Time to market: only because of Dongfeng
Hangzhou Bank was the third city commercial bank to submit IPO materials to the CSRC that year. Nanjing Bank and Bank of Ningbo, which submitted their applications before Hangzhou Bank, have been listed as scheduled, and Bank of Beijing has come from behind, but Hangzhou Bank is still in the corner.
In 2007, the IPO application of Hangzhou Commercial Bank, which has not been renamed, was officially launched. In order to solve the common ownership structure problems of city commercial banks, the first axe before the listing of Hangzhou Bank was cut here.
First, employees of Hangzhou Bank 1378 agreed to accept 9.483 million shares transferred by Hangzhou Bank Trade Union at the transfer price of 2.5 yuan per share.
In 2008, Hangzhou Bank transferred 25,593,200 shares to Hangzhou Steam Turbine Co., Ltd., Hangzhou Jiantong Group Co., Ltd. and Zhejiang Zhengtai Meter Co., Ltd. at the price of 9.7 yuan per share, among which 24,245,200 shares were held by employees. The employee income of Hangzhou Bank exceeds 1 100 million yuan. After the transfer, the total shareholding of employees of Hangzhou Bank still exceeds1.50 billion shares, accounting for 1 1.75% of the total share capital.
According to the Notice on Standardizing Employee Stock Ownership of Financial Enterprises issued by the Ministry of Finance on 20 10, after the public offering of new shares, the employee stock ownership ratio of listed city commercial banks shall not exceed 10% of the total share capital. By continuously diluting and reducing the share capital, the 2009 annual report of Hangzhou Bank shows that the number of natural person shares held by the bank is only 85 million shares, accounting for 5.09%.
In addition, in terms of policies, the Hangzhou Municipal Government has also given high support. A document of the Hangzhou Municipal Government stated that it is necessary to enlarge and strengthen local financial institutions in Hangzhou, actively promote the equity reform of Hangzhou Commercial Bank, Hangzhou Urban Rural Credit Cooperative and Hangzhou Industrial and Commercial Trust Company, encourage the introduction of overseas strategic partners, enhance the ability to adapt to market competition after financial opening up, and gradually become a regional financial institution with high management level and strong market competitiveness; Encourage them to innovate financial business and financial tools with preferential policies.
It must be said that the Hangzhou municipal government not only paves the way for Hangzhou Bank in attracting strategic investors, but also has more support in various subtle policies.
From 2007 to now, six years have passed, and what Hangzhou Bank's internal staff called "the steady progress of IPO" has finally become a thing of the past, and Hangzhou Bank still stays on the implementation feedback. The strength of "Gao Fushuai" is still there, and IPO may be expected in the near future. Ten years to grind a sword, only owe the east wind.