Shanghai Rural Commercial Bank Announces Release of 57.86 Million Restricted Shares on August 19

Deep News
Aug 13

On August 13, it was reported from the financial front that Shanghai Rural Commercial Bank Co.,Ltd. announced a batch of restricted shares will become tradable. The bank received approval from the China Securities Regulatory Commission on June 15, 2021, via the document "Reply on Approving the Initial Public Offering of Shares by Shanghai Rural Commercial Bank Co.,Ltd." (No. [2021] 2038). This authorization allowed the bank to issue 964,444,445 A shares to the public for the first time, which were listed on the Shanghai Stock Exchange on August 19, 2021.

Following the initial public offering, the company's total share capital stood at 9,644,444,445 shares. Among these, 8,680,000,000 shares were restricted from trading, representing 90% of the total share capital, while 964,444,445 shares were freely tradable, accounting for the remaining 10%. The restricted shares slated for market circulation this time are part of the bank's IPO lock-up period. They involve 3,654 shareholders and one special securities account for unconfirmed holders (shares of shareholders not yet verified are temporarily registered under the "Shanghai Rural Commercial Bank Co.,Ltd. Unconfirmed Holder Securities Special Account"), totaling 57,857,794 shares, which is 0.60% of the company's total share capital. The lock-up period for these shares is set at 60 months from the date of the company's stock listing. These restricted shares will have their lock-up period expire and will be released for trading on Wednesday, August 19, 2026.

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