Towards the end of 2006, Chongqing Bank had agreed to sell a 25% stake to Carlyle and Dah Sing for approximately $130 million and, since then, Dah Sing has obtained regulatory approval to purchase a 17% stake, Reuters reported.
However, Carlyle’s attempt to acquire an 8% stake in the Chinese group failed as it did not meet the current relevant rules and regulations, MarketWatch reported, citing Dow Jones as a source.
Reuters also revealed that Chongqing Bank was planning to launch an initial public offering (IPO) in mainland China, as opposed to its earlier plans of launching an IPO in Hong Kong.
