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Shengjing Bank details Evergrande's 10.02B yuan stake acquisition

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Shengjing Bank details Evergrande's 10.02B yuan stake acquisition

providedmore information on EvergrandeReal Estate Group Ltd.'s estimated 10.02 billion Chinese yuanpurchase of moreshares.

TheChinese bank said that the property developer held 577,180,500 H shares inShengjing Bank as of April 29, representing around 9.96% of the bank's totalshare capital. Other shareholders held 5,219,499,700 shares in the bank, or anestimated 90.04% stake as of the same day.

Followingthe acquisition, Evergrande will own 1,578,860,500 shares in Shengjing Bank, or27.24% of thebank's total share capital. Other shareholders will own a stake of about 72.76%,equivalent to 4,217,819,700 shares.

Theshares acquired by Evergrande will include 1,001,680,000 domestic shares and 577,180,500H shares in the bank.

As of April 29, US$1 wasequivalent to 6.48 Chinese yuan.