On December 5, financial authorities approved the equity change of Qingdao Jimo Huimin Rural Bank. The Qingdao branch of the National Financial Regulatory Administration issued an official reply, agreeing to Qingdao Rural Commercial Bank Co., Ltd. acquiring 118 million shares previously held by Jilin Jiutai Rural Commercial Bank Co., Ltd.
Following the transaction, the former shareholder no longer holds any stake in the bank, while Qingdao Rural Commercial Bank's ownership increases to 118 million shares, raising its stake from 0% to 59%.
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