On January 6, the Jiangxi Financial Regulatory Bureau issued multiple approvals, granting permission for the Jiangxi Rural Commercial United Bank to acquire stakes in several rural commercial banks and to take over shareholdings from various institutions.
Among the approvals, the Jiangxi Financial Regulatory Bureau consented to the Jiangxi Rural Commercial United Bank acquiring 387 million shares in Shangrao Rural Commercial Bank, representing 32.76% of the bank's total target shares following this capital increase and expansion. It also approved the acquisition of 158 million shares in Dexing Rural Commercial Bank, accounting for 33.5% of its post-capital-increase total target shares; the acquisition of 190 million shares in Guangxin Rural Commercial Bank, constituting 24.54% of its total target shares; and the acquisition of 170 million shares in Guangfeng Rural Commercial Bank, making up 31.2% of its total target shares after the capital expansion.
The Pingxiang Supervision Branch of the National Financial Regulatory Administration approved the Jiangxi Rural Commercial United Bank Co., Ltd.'s investment of 12.5 million shares in Luxi Rural Commercial Bank. This investment increases Luxi Rural Commercial Bank's registered capital by 17.625 million yuan, changing it from 229,601,965 yuan to 242,101,965 yuan.
Furthermore, the Jiangxi Financial Regulatory Bureau also authorized the Jiangxi Rural Commercial United Bank to take over shareholdings from multiple institutions. For instance, it approved the bank's acquisition of 78,435,000 shares in Hengfeng Rural Commercial Bank, which were held as debt-settlement equity by Yugan Rural Commercial Bank, and the acquisition of 1,661,900 shares in Hengfeng Rural Commercial Bank held as debt-settlement equity by Dexing Rural Commercial Bank. It also approved the acquisition of 64,622,294 shares held as debt-settlement equity by Gancheng Rural Commercial Bank due to a judicial ruling.
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