Shengjing Bank Co., Ltd. 盛京銀行股份有限公司
Oshidori (0622) buys 100m (4.27%) of H-shares of Shengjing Bank (2066), increasing stake to 12.52% for HK$700m
Company announcement, 20-Oct-2021
As this was a (huge) on-market purchase, Oshidori states that it doesn't know who sold the stock. This follows the partial sale by China Evergrande (3333) on 28-Sep-2021 of domestic shares of the bank to a local government entity, and Oshidori's exit from Evergrande Vehicle (0708) on 30-Sep-2021. Oshidori calls the "opportunity to co-invest with Shengyang Government" in the bank a "silver lining". The H-share class is 26.61% of the bank's shares, so Oshidori's increased equity stake is 3.33%.
Company announcement, 20-Oct-2021
As this was a (huge) on-market purchase, Oshidori states that it doesn't know who sold the stock. This follows the partial sale by China Evergrande (3333) on 28-Sep-2021 of domestic shares of the bank to a local government entity, and Oshidori's exit from Evergrande Vehicle (0708) on 30-Sep-2021. Oshidori calls the "opportunity to co-invest with Shengyang Government" in the bank a "silver lining". The H-share class is 26.61% of the bank's shares, so Oshidori's increased equity stake is 3.33%.
China Evergrande (3333) sells 19.93% stake in Shengjing Bank to local government entity
| Shengjing Bank announcement
Company announcement, 29-Sep-2021
China Evergrande keeps 14.57%. It says that its "liquidity issue has adversely affected Shengjing Bank in a material way". As a condition of completing the share transfer, the bank demands that all the proceeds be used to settle "relevant financial liabilities" of the China Evergrande group to the bank. The buyer's stake increases to 20.79% and the aggregate stake of the Shenyang Government (including via other entities) will be 29.54%.
Company announcement, 29-Sep-2021
China Evergrande keeps 14.57%. It says that its "liquidity issue has adversely affected Shengjing Bank in a material way". As a condition of completing the share transfer, the bank demands that all the proceeds be used to settle "relevant financial liabilities" of the China Evergrande group to the bank. The buyer's stake increases to 20.79% and the aggregate stake of the Shenyang Government (including via other entities) will be 29.54%.
China Strategic (0235) to invest US$20m as a cornerstone in IPO of Shengjing Bank
Company announcement, 11-Dec-2014
We note that the company has just closed a rights issue underwritten by Enerchine Securities Ltd (owned by Enerchina, 0622) to raise HK$172m (about US$22m) net.
Company announcement, 11-Dec-2014
We note that the company has just closed a rights issue underwritten by Enerchine Securities Ltd (owned by Enerchina, 0622) to raise HK$172m (about US$22m) net.
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