Postal Savings Bank of China or PSBC (HKG:1658, SHA:601658) plans to transfer part of the beneficial interest of certain trusts and an asset management plan to China Post Capital Management for around 51.6 billion yuan, according to a Thursday filing on the Hong Kong bourse.
The parties are yet to enter into a formal agreement regarding the transfer.
The lender will use proceeds from the transfer support its business development.
Hong Kong-listed shares of the bank closed 1% lower on Friday.
Price (HKD): $4.41, Change: $-0.05, Percent Change: -1.12%
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
Comments