Xiamen Bank Co., Ltd. announced that it has received CNY 201.71 million in funding from Fubon Bank (Hong Kong) Limited.
April 22, 2014 at 12:00 am EDT
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Xiamen Bank Co., Ltd. announced a private placement of 57,630,000 shares at a price of CNY 3.50 per share with existing investor, Fubon Bank (Hong Kong) Limited for gross proceeds of CNY 201,705,000 on April 22, 2014. The investor will continue to hold 19.99% stake in the company. The board of directors of Fubon Financial Holding Co., Ltd., parent entity of the investor approved the transaction. The transaction is subject to regulatory approvals.
On April 22, 2014, Xiamen Bank Co., Ltd. closed the transaction.
Xiamen Bank Co Ltd is a China-based company principally engaged in commercial banking business. The Company's businesses mainly include corporate banking, personal banking and treasury business. The Company's corporate banking products mainly include corporate loans, bill discounting, corporate deposits, trade financing, agency services, cash management services, financial advisory and consulting services, remittance and settlement services. The Company provides retail banking products and services to individual customers, including personal loans, personal deposits, debit cards, credit cards, intermediary services and electronic banking products. The Company's treasury business mainly includes treasury trading business, bond investment trading business, derivatives trading business, inter-bank business, bill business and asset management business.
XIAMEN BANK CO., LTD. 
