Fujian-based Industrial Bank may complete the first new A-share offering of the year. The bank is looking to raise more than US$2 billion or 20% of its enlarged share capital with an offering of 1 billion new units between US$1.93 (RMB15) and US$2.05 (RMB15.98), the South China Morning Post reported. The move is unusual because regulators have been trying to curb enthusiasm in the stock markets and because Industrial Bank's loan growth has slowed for years due to a shortage of funds that has kept its adequacy ratio near 8%. The bank has been planning to list for three years, but was slowed by a share reform program and then by a barrage of offerings from bigger banks.
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