Bank of Lanzhou Co., Ltd. announced that it expects to receive funding from Lanzhou Minbai Shareholding Co., Ltd.
July 11, 2013 at 09:30 am IST
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Bank of Lanzhou Co., Ltd. announced that it intends to receive a round of funding from existing investor Lanzhou Minbai Shareholding (group) Co., Ltd. on July 11, 2013. The shares will be issued to existing shareholders pursuant to their respective shareholdings. If the subscriptions received are less than the number of shares to be issued, the shares will be offered to other entities.
On July 22, 2013, the company announced that the transaction was approved at the 2nd session of the 7th directorate meeting of Lanzhou Minbai Shareholding (group) Co., Ltd. The company announced that it will issue not more than 1,000,000,000 shares at CNY 2.52 per share for gross proceeds of not more than CNY 2,520,000,000. Lanzhou Minbai Shareholding (group) Co., Ltd. will subscribe for 10,725,200 shares for gross proceeds of CNY 27,027,500. The company reported total assets of CNY 111,208,000,000 as of June 30, 2013.
Bank of Lanzhou Co Ltd is a China-based company mainly engaged in corporate banking business. The Company's businesses also include personal banking business, capital business and other businesses. The corporate banking business mainly includes deposit, settlement, cash management, fixed asset loan, working capital loan, bill discount, acceptance bill, factoring, international business, investment banking, corporate financial management, guarantee and commitment, financial technology and entrusted loan and others. The personal banking business mainly includes demand savings and time savings, large certificates of deposit, personal call deposits and others. The capital business mainly includes short-term capital transactions, inter-bank transactions, investment in fixed income products, various bond investments and others.
BANK OF LANZHOU CO., LTD. 