<article>Zhangjiagang Rural Commercial Bank has received the regulatory nod for an initial public offering, the <a style="color: #000080;" href="http://www.dealstreetasia.com/?s=China+Securities+Regulatory+Commission">China Securities Regulatory Commission (CSRC)</a> said in a statement.</article>

Zhangjiagang Rural Commercial Bank has received the regulatory nod for an initial public offering, the <a style="color: #000080;" href="http://www.dealstreetasia.com/?s=China+Securities+Regulatory+Commission">China Securities Regulatory Commission (CSRC)</a> said in a statement.
The offering is set to raise at least 2.3 billion yuan ($354 million), the China Securities Times newspaper said, adding that it is the fifth China rural bank to have its IPO plans approved this year.
According to an abstract previously posted on the website of the CSRC, the bank intends float up to 25 percent of its shares in Shenzhen.
As pressure on bank balance sheets has risen over the past year and a half, a number of medium sized lenders have come to the market seeking additional equity funding.
Two city commercial banks &#8211; <a style="color: #000080;" href="http://www.dealstreetasia.com/?s=China+Zheshang+Bank+Co+Ltd">China Zheshang Bank Co Ltd</a> and <a style="color: #000080;" href="http://www.dealstreetasia.com/?s=Bank+of+Tianjin+Co+Ltd">Bank of Tianjin Co Ltd</a> &#8211; conducted initial public offerings in Hong Kong earlier in 2016. The banks raised a combined $2.6 billion but retail investor demand was weak, in what analysts said was a reaction to worries about rising non-performing loans and concerns about future profitability.
The other four rural banks that have received approval for their IPO plans are Wuxi Rural Commercial Bank Co Ltd, Jiangyin Rural Commercial Bank Co Ltd, Changshu Rural Commercial Bank Co Ltd and Wujiang Rural Commercial Bank Co Ltd, the China Securities Times said.
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<h4 style="text-align: justify;">Reuters</h4>

Zhangjiagang Rural Commercial Bank has received the regulatory nod for an initial public offering, the China Securities Regulatory Commission (CSRC) 

China regulator approves IPO plan for Zhangjiagang Rural Commercial Bank

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China regulator approves IPO plan for Zhangjiagang Rural Commercial Bank

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