CBIRC approves aibank’s issuance of no more than 1.634 billion shares

On May 22, the application of China CITIC Baixin Bank Corporation (aibank) for capital increase and share expansion and shareholder qualifications was approved, and a capital increase and share expansion plan that no more than 1.634 billion shares will be issued, the China Banking and Insurance Regulatory Commission (CBIRC) announcement showed.

On May 22, the application of China CITIC Baixin Bank Corporation (aibank) for capital increase and share expansion and shareholder qualifications was approved, and a capital increase and share expansion plan that no more than 1.634 billion shares will be issued, the China Banking and Insurance Regulatory Commission (CBIRC) announcement showed.

In addition, the CBIRC also agreed that CITIC Bank will subscribe for 622 million shares of aibank, holding a total of 3.422 billion shares of the bank, accounting for 60.75% of the bank’s total equity after this issue.

Canada Pension Plan Investment agreed to subscribe for 466 million shares of aibank, which accounted for 8.27% of the bank’s total equity after the offering.

In addition to China CITIC Bank, the existing shareholder Baidu also participated in the follow-up investment.

Disclaimer: This is an article created by Michael Liang for Chinasdg.org. You can find the original article here: https://chinasdg.org/2020/05/24/cbirc-approves-aibanks-issuance-of-no-more-than-1-634-billion-shares/.

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