ICBC:ICBC International Successfully Completed an IPO Deal for DRCB (09889.HK) in Hong Kong


Humbleguy882022/01/14 08:26
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ICBC:ICBC International Successfully Completed an IPO Deal for DRCB (09889.HK) in Hong Kong

Abstract:Hong Kong, 29 September 2021, ICBC International, acting as Joint Sponsor, Joint Global Coordinator, and Joint Bookrunner, has completed an IPO deal in Hong Kong for Dongguan Rural Commercial Bank Co Ltd ("DRCB"; 09889.HK).


  ICBC International Holdings Limited (“ICBC International”) is a wholly-owned subsidiary of ICBC in Hong Kong. As a Hong Kong incorporated and based company, ICBC International leverages the parent bank's premier brand, strong capital base, extensive clients' base and advanced financial products in China. It is exposed to domestic and overseas capital markets and provides domestic and overseas financing clients with services in four product lines; corporate financing, investment business, sales & trading and asset management. ICBC International also offers market research services covering global macro economy, international financial markets, environmental protection, medical care and other hot industries.


What Is an Initial Public Offering (IPO)?

  An initial public offering (IPO) refers to the process of offering shares of a private corporation to the public in a new stock issuance. An IPO allows a company to raise capital from public investors

  It was on 29 September 2021, ICBC International, whi is currently as Joint Sponsor, Joint Global Coordinator, and also Joint Bookrunner, has completed an IPO deal in Hong Kong for Dongguan Rural Commercial Bank Co Ltd (“DRCB”; 09889.HK).

  Dongguan Rural Commercial Bank Co., Ltd. is an information technology and services company based out of Dongguan, Guangdong, China. Dongguan Rural Commercial Bank Co Ltd is a company strongly engaged in corporate banking business and personal banking business. The Company operates four segments. Corporate Banking Business segment and in each segment it provides financial products and services to corporate customers, government agencies and financial institutions, including corporate loans and advances, trade finance, deposits, and various other corporate intermediary businesses. Personal Banking Business segment provides financial products and services to individual customers, including personal loans and advances, deposits, bank cards, and various other individual intermediary businesses. Treasury segment covers money market transactions, repurchase transactions, debt instrument investments, wealth management products and precious metals. The Company also operates Others segment. Dongguan Rural Commercial Bank provides its services throughout rural areas.

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