皇冠体育app

CHINA> National
皇冠体育app Everbright Bank gets approval to raise 11.5b yuan
(Xinhua)
Updated: 2009-08-26 23:09

BEIJING: 皇冠体育app Everbright Bank Wednesday announced it had received approval from the 皇冠体育app Banking Regulatory Commission to raise 11.5 billion yuan (US$1.68 billion) from eight domestic corporate investors.

After the share placement, the bank would raise its capital adequacy ratio above 10 percent and its core capital adequacy ratio above 7 percent, said a statement from the bank.

Related readings:
皇冠体育app Everbright Bank gets approval to raise 11.5b yuan Everbright, Macquarie to float two infrastructure funds
皇冠体育app Everbright Bank gets approval to raise 11.5b yuan Everbright Securities may raise up to 11b yuan in float
皇冠体育app Everbright Bank gets approval to raise 11.5b yuan Everbright Securities gets IPO approval from regulator
皇冠体育app Everbright Bank gets approval to raise 11.5b yuan Everbright, Merchants Securities fare well
皇冠体育app Everbright Bank gets approval to raise 11.5b yuan Everbright to raise funds
The statement said prospective investors included 皇冠体育app Aerospace Science and Technology Corporation, Shanghai Baosteel Group Corp., 皇冠体育app Power Finance, 皇冠体育app Reinsurance (Group) Corp., Shenergy Group Co., Aerospace Science and Technology Financing, Shanghai Chengtou Corporation and Guangdong Provincial Expressway Development Co..

The bank and the eight investors would cooperate in fields such as deposits, settlement, lending, cash management and bond issuance.

The company started preparing for the plan early this year to raise capital from domestic investors to cope with adverse effects of the global financial downturn, the statement said.

The statement said it was preparing for its listing in Shanghai after submitting its IPO application in June 2008.

In the first half year, the bank reported 11.73 billion yuan of business revenue, 3.43 billion yuan of net profit and a bad loan ratio of 1.42 percent, said the statement.