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Three Investment Firms Step In to Help Troubled Regional Bank

2019年07月29日 20:28 来源于 财新网
Investors including a subsidiary of the world’s largest lender will take a combined 25% stake in the company, Caixin can reveal
Bank of Jinzhou’s Hong Kong-listed shares were suspended in April after it failed to publish a 2018 annual report. Photo: VCG

Three investment firms, including one controlled by China’s largest lender, have confirmed that they will invest in troubled Bank of Jinzhou Co. Ltd. as part of a restructuring effort.

State-owned Industrial and Commercial Bank of China Ltd. (ICBC) will invest no more than 3 billion yuan ($435.2 million) in privately-owned Bank of Jinzhou through a wholly-owned subsidiary, ICBC Financial Asset Investment Co. Ltd., in exchange for a 10.82% stake in Bank of Jinzhou, Hong Kong- and Shanghai-listed ICBC announced late Sunday

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