Huaxia Bank to seek Hong Kong/U.S. listings within 3-4 yrs

SHANGHAI (AFX-ASIA) - Huaxia Bank Co Ltd plans to seek a stock market listing in Hong Kong or New York in the next 3-4 years, chairman Lu Yucheng said, according to the Shanghai Securities News.

	    According to the report, Lu said the bank will try its best to gain a domestic A-share listing during the year.

	    Lu said domestic and overseas listings will not only inject capital into the bank, but will also improve the company's share structure and force it to become internationalised.

	    He said it will take five years to internationalise the bank, adding that Huaxia plans to invite either one or two international commercial banks to acquire stakes in the firm, and plans to invite a foreign banker to become the bank's (senior) vice president.

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