Brief: Huishang Bank Corp Proposes To Buy Part Of Assets & Liabilities Of Baoshang Bank

Huishang Bank

06/02/2020 11:12

Feb 6 (Reuters) - Huishang Bank Corp Ltd  3698.HK :
    * PROPOSES TO BUY PART OF ASSETS & LIABILITIES OF BAOSHANG
BANK,
ESTABLISH OR BUY DIRECTLY 4 BRANCHES OF BAOSHANG BANK
    * PLANS TO MAKE ONE-OFF CAPITAL CONTRIBUTION OF NO MORE THAN
RMB3.6 BILLION IN PARTICIPATING IN INITIAL ESTABLISHMENT OF
FINANCIAL INSTITUTION
    * PROPOSES TO ISSUE TIER-2 CAPITAL BONDS WITH TOTAL AMOUNT
NOT
EXCEEDING RMB20 BILLION BY 2021
    * PROPOSED ACQUISITION IN ORDER TO EXPLORE PATH OF
SUSTAINABLE
DEVELOPMENT OF THE CITY COMMERCIAL BANK
    * ACQUIRES FROM BAOSHANG BANK ALL ASSETS OF BEIJING BRANCH,
SHENZHEN BRANCH, CHENGDU BRANCH & NINGBO BRANCH OF BAOSHANG BANK
    * UPON ACQUISITION, BANK TO SET UP 4 BRANCHES OR DIRECTLY
BUY 4
BRANCHES OF BAOSHANG BANK TO TAKE OVER AFORESAID BUSINESS,
EMPLOYEES

Source text for Eikon:  ID:nHKS3t8Rrc 
Further company coverage:  3698.HK 

 ((Reuters.Briefs@thomsonreuters.com;))