Jingjiang Rural Commercial Bank's targeted fundraising plan approved, Jiangsu Rural Commercial Joint Bank subscribes to 65.63 million shares

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On April 20th, the Taizhou Financial Regulatory Bureau issued a reply, approving Jiangsu Jingjiang Rural Commercial Bank Co., Ltd.'s proposed targeted fundraising plan, raising 72.84M shares. The bank must strictly review the source of shareholder funds; the funds for share subscription must be from self-owned capital, ensuring the source of funds is legal, and funds from non-self-owned sources are not allowed. The bank should carefully implement this targeted fundraising plan, comply with relevant laws and regulations, fulfill all statutory procedures, and ensure that the targeted fundraising work is legal and compliant. After the fundraising is completed, the bank should promptly carry out the procedures for changing the registered capital.

On the same day, the Taizhou Financial Regulatory Bureau approved the shareholder qualification of Jiangsu Rural Commercial United Bank Co., Ltd. for Jiangsu Jingjiang Rural Commercial Bank Co., Ltd. It agreed that Jiangsu Rural Commercial United Bank Co., Ltd. subscribes to 65.63 million shares of Jingjiang Rural Commercial Bank, accounting for 8% of the total share capital after this round of targeted fundraising.

The reply states that Jingjiang Rural Commercial Bank should strengthen equity management, further optimize the equity structure, strictly control related-party transactions among shareholders, improve corporate governance and internal control mechanisms, and prevent and resolve risks.

(National Financial Regulatory Administration)

(Edited by: Qian Xiaorui)

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