Regulations Governing The Establishment Criteria and Administration of The Industrial Bank Article 18

A promoter(s) of an industrial bank shall, on the basis of the bank's actual capital, subscribe 90% of the total number of issued shares at the time of originating the bank; the remaining number of issued shares shall be offered for public subscription. If, after the offer for public subscription of the issued shares, there are the issued shares which have not been subscribed, or have been subscribed but the subscribers have not paid for the shares, the promoter shall, within the period regulated by Paragraph 2 of Article 25, be jointly liable for the subscription of these shares - this rule also applies to the promoter when the shares have been subscribed but are withdrawn. Among the promoter's sources of capital for the payment of the shares mentioned in the preceding Paragraph, the amount of the borrowed funds cannot exceed 30% of the overall amount of the promoter's capital. The issuance conditions for the shares subscribed by the promoter, as mentioned in Paragraph 1, and those for the shares offered for public subscription shall be identical and the price per each of the said shares shall be uniform. As regards shares being offered for public subscription pursuant to Paragraph 1, the quantity of these shares subscribed by each person cannot exceed 10,000 shares.