Postal Savings Bank Announces Replacement of CICC Sponsor Representative for Ongoing Supervision Work

Deep News08-28 16:50

On August 28, financial news reported that Postal Savings Bank Of China Co., Ltd. (referred to as PSBC) issued an announcement today stating that China International Capital Corporation Limited (referred to as CICC), serving as one of the sponsor institutions for the bank's 2025 private placement of A-shares, had originally designated Wu Yao and Wang Xin as the sponsor representatives responsible for the underwriting and post-listing ongoing supervision of this issuance.

Recently, the bank received a notice from CICC titled "Letter Regarding the Replacement of the Sponsor Representative for Ongoing Supervision of Postal Savings Bank of China Co., Ltd." Wu Yao, due to a job change, will no longer serve as the sponsor representative for the bank's ongoing supervision. To ensure the orderly progress of this supervision work, CICC has appointed Zhu Xiaofei to take over Wu Yao's duties and continue fulfilling the related responsibilities and obligations.

Following this change, the sponsor representatives assigned by CICC for the bank's ongoing supervision are Mr. Zhu Xiaofei and Mr. Wang Xin. The supervision period will last until the end of the ongoing supervision obligations as stipulated by the China Securities Regulatory Commission and the Shanghai Stock Exchange.

According to his resume, Zhu Xiaofei, male, is a sponsor representative and currently serves as the Director of the Investment Banking Department at CICC. He has led or participated in several projects, including the A-share IPO of Postal Savings Bank Of China Co., Ltd., the 2021 and 2023 non-public issuances of A-shares by Postal Savings Bank Of China Co., Ltd., the 2025 private placement of A-shares by Postal Savings Bank Of China Co., Ltd., the 2025 private placement of A-shares by China Construction Bank Corporation, the 2022 rights issue of Xingye Securities Co., Ltd., and the 2022 rights issue of Caitong Securities Co., Ltd. Throughout his practice, he has strictly adhered to relevant laws and regulations and maintained an excellent professional record.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap
Leave a comment