Luzhou City Commercial Bank Co., Ltd. (stock code: 1983.HK, “Luzhou Bank”) was successfully listed on the Main Board of the Stock Exchange of Hong Kong Limited (the “SEHK”) on December 17, 2018, at an issuing price of HK$3.18 per share, and with an issuing scale of 545.740 million shares. Luzhou Bank became the second listed bank in the Sichuan Province and the first listed bank in the western region. It is also the first financial institution in the Sichuan Province that is listed on the SEHK.
Established in September 1997, Luzhou Bank is the only city commercial bank headquartered in Luzhou City, its NPL ratio as of December 31, 2017 is lower than all the H-share listed banks, and its provision coverage as of the same date is higher than all H-share listed banks.
As domestic legal counsel for Luzhou Bank, JunHe has participated in this project since the end of 2017. The project timeframes were tight with a considerable complex workload. It required the carding of 20 years’ history of the bank, the confirmation of rights by more than 1,400 individual shareholders, and the confirmation of rights by more than 300 properties. During the course of the project, China Banking and the Insurance Regulatory Commission promulgated and implemented a series of strong new regulations on the Interim Measures for Equity Management of Commercial Banks in early 2018 and put forward higher requirements for legal due diligence. For this project, JunHe provided a series of high-quality and efficient legal services for Luzhou Bank, and successfully solved a series of complicated and difficult problems. The JunHe team's high level of professional ability, rigorous and efficient work style, rich experience in solving difficult problems, and flexible ability to deal with emergencies have been unanimously affirmed and highly praised by Zhangzhou Bank and other intermediaries. After the intimate collaboration on this project, JunHe has become one of the trusted strategic partners of Luzhou Bank.