Bank of Jiujiang Receives Approval for New Share Issuance

Deep News
Apr 30

On April 30, the Jiangxi Financial Regulatory Bureau issued an approval document for Bank of Jiujiang's plan to issue new shares, authorizing the bank to proceed with the capital-raising initiative. The regulator instructed the bank to strictly comply with relevant laws and regulations in completing the share issuance process. It emphasized the need to strengthen scrutiny of shareholder qualifications and fund sources, ensuring that all investment capital is legally obtained and compliant. The use of non-owned funds, such as entrusted capital or debt financing, for share subscription is strictly prohibited. Additionally, the bank must follow prescribed procedures and requirements to properly handle applications or filings related to equity changes and registered capital adjustments.

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