Brief: Zhongyuan Bank Co Approves Merger Of Bank Of Luoyang & 2 Other Banks Into Co

Zhongyuan Bank

07/12/2021 12:26

Dec 7 (Reuters) - Zhongyuan Bank Co Ltd  1216.HK :
    * APPROVED BANK OF LUOYANG, BANK OF PINGDINGSHAN AND BANK OF
JZCTS
 WILL BE MERGED AND ABSORBED INTO CO
    * PROPOSES TO ISSUE 13.32 BILLION DOMESTIC SHARES OF BANK TO
THEN
EXISTING SHAREHOLDERS OF TARGET BANKS
    * ISSUANCE OF SHARES FOR TOTAL CONSIDERATION OF RMB28.5
BILLION
FOR POTENTIAL ABSORPTION AND MERGER
    * APPROVED FRAMEWORK ARRANGEMENT OF POTENTIAL DISPOSAL OF
CERTAIN
CREDIT ASSETS, AMONG OTHERS TO POTENTIAL PURCHASER
    * DISPOSAL OF CERTAIN CREDIT ASSETS AND OTHER FINANCIAL
ASSETS OF
BANK AT NO LESS THAN RMB9 BILLION

Source text for Eikon:  ID:nHKSybv1J 
Further company coverage:  1216.HK 

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