China Bohai Bank to Transfer Assets Worth Nearly 26 Billion Yuan Through Public Tender

MT Newswires Live07-22

China Bohai Bank (HKG:9668) plans to transfer certain financial assets legally held by it for an initial minimum consideration of at least 17.67 billion yuan by way of a public tender, a Monday filing with the Hong Kong Exchange said.

The transferrable assets involved include 25.61 billion yuan of debts owed by 53 entities to the bank, the incurred interests, and penalties.

the transfer is subject to the approval of the bank's general meeting and if approved, the bank will carry out the transfer in batches to one final transferee out of the potential transferees.

The bank intends to utilize the expected proceeds of at least 17.67 billion yuan for its general capital and to improve the bank's liquidity.

The company's shares were up over 1% on Monday's close.

Price (HKD): $0.94, Change: $+0.01, Percent Change: +1.08%

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