HONG KONG — Shandong International Trust Co., Ltd.(1697 HK.) today announces the details of its global offering plan and the listing of its H shares on the Main Board of The Stock Exchange of Hong Kong Limited, being the first Chinese trust company to attempt an IPO in more than two decades and the first to list in Hong Kong. BoCom international, CCB International and Haitong International are joint sponsors.
According to the Prospectus, the shares are slated for pricing on December 1 and the trading will start on December 8. The Offer Price ranges between HK$4.46 and HK$5.43 per H Share.
As a comprehensive financial and wealth management service provider in China, Shandong International Trust utilizes the Company’s trust products to provide diversified financing and investment services. Licensed by the CBRC, the Company is permitted to provide financing and investing solutions across the real economy, capital markets and money markets in China.
Shandong International Trust was ranked 6th among all trust companies the controlling shareholders of which have local government background and ranked 25th among all trust companies in China in terms of total trust assets in 2016 according to Wind Info. In accordance with the Prospectus, the Company was rated “Class A” (the highest rating attainable) in the industry-wide rating organized by the China Trustee Association under the supervision of the CBRC for the years of 2015 and 2016 based on comprehensive assessment of the capital strength, risk management, incremental value and social responsibility. The Company was rated “Excellent (AAA)” (the highest rating attainable) in the performance assessment of all local financial institutions in Shandong organized by the Shandong Provincial Finance Bureau in 2016 based on comprehensive assessment of the profitability, asset quality, liquidity and business growth.
Shandong International Trust has successfully withstood economic and market fluctuations over the past few years and achieved rapid growth. The trust AUM of all the Company’s trusts increased from RMB 112,392 million as of December 31,2011 to RMB to RMB 254,637 million as of December 31, 2016, representing a CAGR of 17.8% and remained almost unchanged at RMB254,499 million as of 31 May 2017.
Lucion Group, the Company’s Controlling Shareholder, is one of the most important investment and financing platforms of the Shandong provincial government and holds investments in a wide variety of industries such as financial services, venture capital, culture and media, tourism, infrastructure, real estate, energy and technologies, and has achieved full coverage of finance, investment, industry and commerce. The strong background of existing shareholders and their abundant resources and expansive business networks created significant synergies with the Company’s business and provided strong support for the development of the Company’s business.
“In the future, we intend to continue to strengthen our traditional business while formulating a strategic layout for future development, enhancing our active management capabilities, capturing new business opportunities through continuous innovation and implementing risk control on our business under an optimized internal management system.” Said Ms. Wang Yingli, the Chairperson of the Company at the press conference, “Our goal is to build up our brand image as a high-quality, top-notch and trustworthy financial service provider.”