On October 24, Chongqing Rural Commercial Bank announced the upcoming trading of its restricted shares from the initial public offering (IPO). According to the announcement, the IPO was approved by the China Securities Regulatory Commission and the Shanghai Stock Exchange. The bank issued a total of 1,357,000,000 ordinary shares (A-shares) to the public and listed them on October 29, 2019.
Before the IPO, the total share capital of the bank was 10,000,000,000 shares, which increased to 11,357,000,000 shares following the issuance. Of the total shares, 7,743,394,491 are restricted shares, accounting for 68.18%, while the number of unrestricted shares is 3,613,605,509, which represents 31.82%. As of the date of this announcement, the total share capital is 11,357,000,000 shares, of which 5,963,705 shares (all A-shares) are restricted, making up 0.05% of the total. The unrestricted shares amount to 11,351,036,295, including 8,837,700,254 unrestricted A-shares and 2,513,336,041 unrestricted H-shares, representing 99.95% of the total shares.
The restricted shares set to trade include 542,155 shares, accounting for 0.0048% of the total share capital, and involve 153 individual shareholders. The lock-up period for these restricted shares lasts for 72 months from the date the bank's A-shares were listed on the Shanghai Stock Exchange and will expire on October 30, 2025, when they will be available for trading.
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