The regulatory authority in Chongzuo has approved a plan for Guangxi Fusui Rural Commercial Bank to conduct a private placement of shares.

The approval, issued by the Chongzuo Supervision Bureau of the National Financial Regulatory Administration, grants the bank permission to proceed with a targeted share issuance totaling 22 million shares.

The regulator has stipulated that the bank must strictly adhere to all relevant laws and regulations to complete this private placement. Following the completion of the capital raise, the bank is required to submit an application to the bureau to change its registered capital, supported by a capital verification report from a statutory institution and other necessary documents.