Liaoning Financial Holding Group Co., Ltd. made an offer to acquire 43.15% stake in Bank of Jinzhou Co., Ltd. (SEHK:416) for CNY 7.6 billion on January 26, 2024. Liaoning will acquire all the H Shares of Bank of Jinzhou at a price of CNY 0.91 (HKD 1.38) per H shares and domestic shares at CNY 1.25 per domestic share. The consideration payable under the offers will be financed by the Liaoning?s own resources and/or external financing.

The Independent Board Committee has been established for the purpose of making a recommendation to the shareholders of Bank of Jinzhou. The transaction is conditional on approval of shareholders of Bank of Jinzhou, the passing of a special resolution by not less than two-thirds of the votes cast, valid acceptances of the H Share Offer having been received, the granting of the waiver by the Executive, no event having occurred or existing which would make the H Share Offer void, no material adverse change in the business, assets, financial or trading positions or prospects or conditions of the Bank of Jinzhou and the granting of the waiver, if applied for, by the Executive. China International Capital Corporation Limited (SEHK:3908) acted as the financial advisor to Liaoning Financial Holding Group Co., Ltd.