Brief: China Huarong Asset Management To Transfer 70% Equity In Huarong Consumer Finance To Bank Of Ningbo

China CITIC Financial Asset Management

27/12/2021 10:20

Dec 27 (Reuters) - China Huarong Asset Management Co Ltd
 2799.HK :
    * CO AND BANK OF NINGBO CO ENTERED INTO UNLISTED STATE-OWNED
EQUITY TRANSACTION CONTRACT
    * INTENDS TO TRANSFER 70% EQUITY IN HUARONG CONSUMER FINANCE
TO
BANK OF NINGBO
    * EQUITY TRANSFER WILL BE CONDUCTED BY WAY OF PUBLIC LISTING
FOR
DISPOSAL THROUGH BEIJING FINANCIAL ASSETS EXCHANGE
    * ASSESSMENT PRICE OF EQUITY OF HUARONG CONSUMER FINANCE IN
EQUITY
TRANSFER IS RMB727 MILLION
    * FINAL PRICE OF EQUITY TRANSFER DETERMINED BY WAY OF ONLINE
BIDDING AT CFAE IS RMB1.09 BILLION
    * ON APPROVAL BY RELEVANT REGULATORY AUTHORITIES, CO AND
BANK OF
NINGBO WILL JOINTLY HANDLE REGISTRATION OF EQUITY CHANGE

Further company coverage:  2799.HK 

 (Reuters.briefs@thomsonreuters.com)