RSSNewsletterSiteMapFeedback

Home · Weather · Forum · Learning Chinese · Jobs · Shopping
Search This Site
China | International | Business | Government | Environment | Olympics/Sports | Travel/Living in China | Culture/Entertainment | Books & Magazines | Health
Home / Business / News Tools: Save | Print | E-mail | Most Read | Comment
Central Huijin bails out bank
Adjust font size:

Central Huijin Investment Co Ltd, a subsidiary of China Investment Corp (CIC), said it will buy a 70.92 percent stake in China Everbright Bank (CEB) at 1yuan per share.

 

Central Huijin will take control of CEB, China Everbright Group's banking unit, with a 20 billion yuan capital injection by the end of this month.

 

The bailout will lift CEB's core capital adequacy ratio to above 5 percent and pave the way for the entry of strategic investors, allowing the bank to hold an initial public offering (IPO) in Hong Kong and on the mainland A-share market.

 

"The restructure plan will be further discussed by and is subject to approval from the board and shareholders," Tang Shuangning, chairman of China Everbright Group, a State-owned financial conglomerate, said yesterday. "We expect to finish the meetings next week and most likely the plan will be passed by the board and shareholders."

 

The bank is also preparing to introduce strategic investors ahead of a planned Hong Kong listing this year or early next year, Tang said.

 

Earlier media reports said the bank could raise at least US$1 billion in its IPO.

 

The lender is a target for foreign investors given its low share price and scale in the country.

 

"We will reserve a 20 percent stake for foreign strategic investors and we would like to select investors who can hold a stake in the bank for a long time," said Lin Li, a board member of China Everbright Group.

 

The bank has hired China International Capital Corp and Morgan Stanley to find one to three strategic investors, but asset restructuring is a stumbling block for the process.

 

Bad assets and the lender's complicated shareholding structure have made the bank's restructure a difficult process.

 

The bank is 24.16 percent-owned by China Everbright Group and 21.4 percent-owned by Hong Kong-listed China Everbright Ltd.

 

The bank's non-performing loans ratio stood at over 6 percent at the end of 2006. Its net profit was 3.97 billion yuan at the end of September.

 

(China Daily November 8, 2007)

 

Tools: Save | Print | E-mail | Most Read

Comment
Username   Password   Anonymous
 
China Archives
Related >>
- Listing Plan on the Cards for Everbright
- China Everbright Bank Gets Reform Nod
- Gov't to Inject Capital into Everbright Bank
Most Viewed >>
-China set to hit the brakes on rising yuan
-Power to resume shortly in worst-hit area by snow
-Macao's gaming market expands further
-Online operators are on top of the game
-Insurance firms set to stump up billions

May 15-17, Shanghai Women's Forum Asia
Dec. 12-13 Beijing China-US Strategic Economic Dialogue
Nov. 27-28 Beijing China-EU Summit

- Output of Major Industrial Products
- Investment by Various Sectors
- Foreign Direct Investment by Country or Region
- National Price Index
- Value of Major Commodity Import
- Money Supply
- Exchange Rate and Foreign Exchange Reserve
- What does the China-Pakistan Free Trade Agreement cover?
- How to Set up a Foreign Capital Enterprise in China?
- How Does the VAT Works in China?
- How Much RMB or Foreign Currency Can Be Physically Carried Out of or Into China?
- What Is the Electrical Fitting in China?
SiteMap | About Us | RSS | Newsletter | Feedback

Copyright ? China.org.cn. All Rights Reserved E-mail: webmaster@china.org.cn Tel: 86-10-88828000 京ICP證 040089號

主站蜘蛛池模板: 亚洲网红精品大秀在线观看| 波多野吉衣一区二区| 天堂а√8在线最新版在线| 免费人成激情视频在线观看冫| 男女下面无遮挡一进一出| 樱花草www日本在线观看| 四虎影视在线永久免费看黄| 57pao国产成永久免费视频| 新木乃伊电影免费观看完整版| 亚洲欧美日韩三级| 性一交一乱一伧老太| 强开小婷嫩苞又嫩又紧视频| 人妻丝袜无码专区视频网站| 国产成人精品1024在线| 日本中文字幕有码视频| 亚洲欧美日韩国产精品久久| 菠萝视频在线完整版| 国产精品自线在线播放| 两个人日本WWW免费版| 权明星商标查询| 交换美妇94系列部分| 草莓污视频在线观看午夜社区| 国产精品最新资源网| 久久精品女人天堂AV免费观看| 狼群资源网在线视频免费观看| 国产精品毛片完整版视频| 三个黑人上我一个经过| 最近更新2019中文字幕8| 亚洲视频在线免费看| 腿张大点我就可以吃扇贝了| 国产精品99久久免费观看| smesmuu的中文意思| 日本三级在线观看中文字| 亚洲另类自拍丝袜第1页| 亚洲欧美日韩丝袜另类| 好爽…又高潮了免费毛片| 久久久无码精品亚洲日韩蜜桃| 欧美影院在线观看| 国产乱来乱子视频| 你懂的在线播放| 抵在洗手台挺进撞击bl|