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Dec 01st
Sector News > Banking & Finance > CBRC Approves Equity Acquisition

05

Sep

CBRC Approves Equity Acquisition Print E-mail

(600036) CHINA MERCHANTS BANK CO.,LTD

The company has been approved by the China Banking Regulatory Commission to acquire 30 mln shares of Taizhou Merchants Bank Co., Ltd., following which, the company will hold a 10% stake in Taizhou Merchants Bank.
In addition, the company will purchase bonus shares previously distributed by Taizhou Merchants Bank at the price of RMB 1.00 per share by using 10% of the undistributed profits of Taizhou Merchants Bank from 1 Jun 2008 until the day of the above-mentioned share transfer. Thus, the company's 10% holding proportion in Taizhou Merchants Bank will be maintained.
Board of Directors
5 Sept 2008
Source: Shanghai Stock Exchange
Date: 5 Sept 2008
CN01/CJ/JL/BT/KM
 

Newsnchina.com
 
 

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