Bank of Shanghai hires Goldman JV for China IPO -exec

SHANGHAI, June 3 (Reuters) - Bank of Shanghai, in which HSBC Holdings Plc HSBA.L0005.HK holds an 8 percent stake, has hired a China investment banking joint venture of Goldman Sachs GS.N to help it list on the domestic stock market this year, a senior executive said on Tuesday.

Bank of Shanghai, a mid-sized commercial lender with its business focus in eastern China, has also hired three domestic brokerages, Guotai Junan, Shenyin Wanguo and CITIC Securities 600030.SS, China's top stock broker, as "joint lead underwriters" for its initial public offering of shares, said the executive.

The bank hopes to list this year but the timing will mainly depend on the market environment, after China's benchmark stock index .SSEC had fallen as much as 50 percent from its record high last October, he told Reuters.

The executive declined to be identified before an official announcement, which is expected late on Tuesday. (Reporting by George Chen; Editing by Edmund Klamann)


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