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(Agencies)
Updated: 2008-01-07 14:31

Dongguan City Commercial Bank, based in southern China's Guangdong province, said it has appointed Goldman Sachs Gao Hua Securities Co as its advisor for a planned domestic initial public offering (IPO).

The bank provided no further details in a statement published on the Nanfang Daily newspaper.

In late 2007, Dongguan Bank said its shareholders approved a proposal to issue up to 545.6 million A shares on one of China's two stock exchanges. The bank is to be renamed "Bank of Dongguan" later.

Beijing-based Goldman Sachs Gao Hua Securities is 33 percent owned by Goldman Sachs Group Inc.