Beijing Mentougou Zhujiang County Bank Co., Ltd announced that it expects to receive CNY 250 million in funding from Guangzhou Rural Commercial Bank Co., Ltd.
December 29, 2021
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Beijing Mentougou Zhujiang County Bank Co., Ltd announced that it will issue 250 million common shares at an issue price of CNY 1 per share for gross proceeds of approximately CNY 250 million on December 30, 2021.The transaction include participation from returning investor Guangzhou Rural Commercial Bank Co., Ltd. The company will raise the funding in 3 tranches within two years. The first tranche before the end of March 2022 for CNY 80 million, second tranche before the end of December 2022 for CNY 80 million, and final tranche before the end of December 2023 for CNY 90 million. The capital contribution in tranche 1 and tranche 2will be implemented as scheduled. The capital contribution in tranche 3 will be considered depending on the assets and business development of company. After the completion of the transaction the shareholding ratio of the investor will increase from 84.44% to 91.33%. The issue price is temporarily calculated, and the actual offering price shall be determined based on the net assets per share recognized in the latest net assets evaluation audit report or assets appraisal report of company before the offering and shall be subject to the final approval of the regulatory authorities.
Guangzhou Rural Commercial Bank Co., Ltd. is a China-based company which is mainly engaged in banking and related business. The Company mainly has three business segments. The Corporate Banking Business segment is mainly engaged in the provision of financial products and services to corporate customers, such as corporate loans, corporate deposits, trade finance and international settlement. The Retail Banking Business segment is mainly engaged in the provision of products and services to retails customers, such as personal loans, personal deposits, bank cards and others. The Financial Market Business segment is engaged in money market transactions, interbank deposit business, wealth management business, investment business and others.
Beijing Mentougou Zhujiang County Bank Co., Ltd announced that it expects to receive CNY 250 million in funding from Guangzhou Rural Commercial Bank Co., Ltd.