trending Market Intelligence /marketintelligence/en/news-insights/trending/5kWLfD_ZltRiRN-fsK0shQ2 content
Log in to other products

Login to Market Intelligence Platform


Looking for more?

Contact Us
In This List

Shengjing Bank details Evergrande's 10.02B yuan stake acquisition

Banking Essentials Newsletter - November Edition

University Essentials | COVID-19 Economic Outlook in Banking: Rates and Long-Term Expectations: Q&A with the Experts

Estimating Credit Losses Under COVID-19 and the Post-Crisis Recovery

StreetTalk – Episode 70: Banks' Liquidity Conundrum Could Fuel M&A Activity

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.