Shanxi bank listed in Hong Kong

Jinshang Bank, based in Shanxi province, was listed on the main board of the Hong Kong Stock Exchange (stock code: 2558.HK) on July 18, becoming the first listed bank in Shanxi province, a milestone in the financial history of Shanxi. 

Renamed in December 2008, Jinshang Bank is the only provincial-level city commercial bank corporation in the province. The bank's total assets were valued at 227.25 billion yuan ($33.06 billion) by the end of 2019, ranking first among six city commercial banks in Shanxi.

The bank was included on a list of the top 1,000 Global Banks of 2019 published by The Banker, a British monthly international financial affairs publication, and ranked 74th in a list of the top 100 Chinese banks in 2018 released by the China Banking Association. 

According to reports, Jinshang Bank issued 860 million H shares globally (excluding over-allotment options), and has managed to raise 3.3 billion Hong Kong dollars ($420 million). The funds will be used to further grow the business.