Caixin
Nov 11, 2021 06:01 AM
FINANCE

Zhongjing Xinhua to Sell Huishang Bank Stake for $2.5 Billion

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What’s new: Zhongjing Xinhua Property Management Co., a longtime shareholder of Huishang Bank, agreed to sell its holdings in the bank to Shenzhen Amer International Group for 16 billion yuan ($2.5 billion), the property manager said.

Zhongjing Xinhua and its affiliates are divesting all 1.977 billion of their shares of Huishang Bank, representing 14.23% of the bank’s total equity. The deal is pending approvals from Huishang Bank’s board and regulatory agencies.

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