Bank of Beijing [Photo: cnsphoto/file photo]

Bank of Beijing said it will issue 1.2 bln shares for an initial public offering on the Shanghai Stock Exchange on Sep 11.

The China Securities Regulatory Commission approved the bank's offering last month.

The bank said it will issue H-shares on the Hong Kong stock market at an appropriate time after the A-share float, subject to a review of the market situation, it said in a prospectus filed with the exchange.

ING Bank NV is currently the largest shareholder of Bank of Beijing with a 19.9 pct stake, while the International Finance Corp (IFC), the investment arm of the World Bank, holds 5 pct.

At the end of March, Bank of Beijing had a capital adequacy ratio of 13.23 pct and its non-performing loan ratio stood at 3.34 pct.

The Bank has registered capital of 5.03 bln yuan, with assets totaling 263.98 bln yuan at the end of March. Outstanding loans totaled 136.92 bln yuan at the end of March, with deposits at 222.59 bln, the bank said.

The bank booked a net profit of 550 mln yuan in the first quarter, while its net interest income came in at 1.52 bln yuan.

Earnings per share stood at 0.11 yuan in the first quarter, and return on net assets was 5.33 pct, the bank said.

At the end of March, Bank of Beijing had a capital adequacy ratio of 13.23 pct with a non-performing loan ratio of 3.34 pct.

Net asset value per share was 1.96 yuan before the issue, the bank said.

The IPO price will be announced on Sept 13.

(1 usd = 7.55 yuan)