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Commonwe synthetic leather supplier alth Bank subscribes new shares of Bank of Hangzhou
发起人：xuzh63　　回复数：0　　浏览数：2100　　最后更新：2011/12/3 13:16:20 by xuzh63

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2011/12/3 13:10:23
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Commonwe synthetic leather supplier alth Bank subscribes new shares of Bank of Hangzhou
Commonwe synthetic leather supplier alth Bank subscribes new shares of Bank of Hangzhou
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Commonwealth Bank subscribes new shares of Bank of HangzhouPublished: 20 Aug 2009 00:02:07 PST
    Top 5 News From ChinaKnowledge.comSOHO China buys office building in Shanghai from Morgan StanleyMirae Asset cuts stake in Guangzhou Shipyard to 4.87%Chinese stocks up 2.1% at middaySanya Phoenix Int'l Airport to issue financing bills on TueAnhui Conch Cement H1 net profit hits RMB 1.28 bln Aug. 20, 2009 (China Knowledge) - Commonwealth Bank of Australia, the second largest bank in Australia, said Wednesday that it has subscribed A$160 million to A$165 million worth of new shares of Bank of Hangzhou to maintain its stake in the Chinese lender at 19.99%.

    CBA said that the share subscription is part of Bank of Hangzhou's fund-raising plans and that the deal is still subject to regulatory approval.

    CBA's Managing Director and CEO Ralph Norris said earlier that the bank plans to launch acquisitions in Asia in the future.

    Baida Group Co Ltd<600865> announced over the weekend that it has bought 10 million shares of Bank of Hangzhou.

    In late July, Bank of Hangzhou obtained shareholders' approval to issue up to 350 million shares through a private placement to raise about RMB 3 billion to boost its capital adequacy ratio to at least 12%, according to an earlier report from China Knowledge.

    At the end of last year, Bank of Hangzhou had net capital of RMB 6.73 billion, including RMB 4.48 billion of core capital. The bank's capital adequacy ratio and core capital adequacy ratio were 10.7% and 7.11%, respectively.


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