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Bank of Gansu (02139) pricing IPO at $2.61-2.77
Bank of Gansu Co., Ltd. (02139), the only provincial city commercial bank in Gansu Province, the PRC, is expected to start its initial public offering tomorrow. Details of the IPO are as follows:

Shares for offer: 2.212 billion H shares (90% for international placing and 10% for Hong Kong public offering), with an option to offer an additional 15% shares

Offer price: HK$2.61-2.77 per H share

Gross proceeds: HK$5.773-6.127 billion

Net proceeds: HK$5.696 billion (assuming an offer price of HK$2.69 per share)

Use of net proceeds: for supplementing capital to support continued business growth

The shares for Hong Kong public offering will be increased:
- to 30% of all global offer shares if the Hong Kong public offer shares are over-subscribed by 15x or higher;
- to 40% of all global offer shares if the over-subscription is 50x or higher; and
- to 50% of all global offer shares if the over-subscription is 100x or higher.

Board lot size: 1,000 shares

IPO "entry fee": HK$2,797.91

Offer period: December 30 to noon on January 11

Pricing date: January 11

Listing date: January 18

Sponsors: BOC Int'l, CMB Int'l, CCB Int'l, Huatai Financial and Guotai Junan

Receiving bank: Bank of China (Hong Kong) and Wing Lung Bank

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