Securities regulators in China may require Hangzhou City Commercial Bank to restructure the terms of a planned stock market listing.
AFX News, which in turn quoted the Securities Times, reported regulators rejected the plan because the stake set aside for employees exceeds a limit of five per cent.
Commonwealth Bank Commonwealth Bank owns a 19.9 per cent stake in the regional bank, employees hld 10 per cent, according to AFX, and the Asian Development Bank has a stake of 4.9 per cent.