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BOC's four new partners
www.chinanews.cn 2005-08-08 15:12:46
Chinanews, Aug.8 - This August is regarded as the most crucial month for
the Bank of China's (BOC) introduction of strategic investors. It was
reported that BOC's investment introduction framework has been generally
confirmed: the Royal Bank of Scotland (RBS), Singapore's Temasek Holdings
Limited, UBS AG and Asian Development Bank (ADB) will be able to hold
nearly 25% BOC shares, amounting to US billion. Nearly 25% shareholding
ratio will be the cap for foreign investors in China's commercial banks.
The "Finance" magazine revealed that among the four foreign enterprises,
the first two will get 9.9% BOC share respectively while 5% share will be
divided between UBS AG and ADB. Nearly 25% BOC share partly came from old
stocks of Central Huijin Investment Co., BOC's exclusive shareholder, and
the rest are from BOC's new share issue. 9.9% share attained by Temasek
Holdings Limited came from Huijin while share resource for the other
three foreign enterprises remained unknown.
It was learned from related channels that due to legal factors, RBS
failed to announce its cooperation plan with BOC in its semi-annual
report and the two sides are still in the final stage of negotiation for
the plan. Judging from RBS's 2.5 billion USD investment in BOC, UBS AG's
500 million USD investment published on June 23rd can obtain about 2% of
BOC shareholdings while ADB's investment can get 3% shareholdings.
��UBS eyes BOC stake (2005-06-22)
��Worldwide, 273 seek senior positions at BOC (2005-06-02)
��Bank of America to be BOC shareholder (2005-04-06)
��BOC hires foreigner as senior officer for the first time
(2005-02-22)
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