IFC PURCHASES STAKE IN CHINA MINSHENG BANKING CORPORATION
AsiaInfo Services, May, 2003
AsiaInfo Services 05-19-2003 IFC Purchases Stake in China Minsheng Banking Corporation BEIJING, May 19, 2003 (SinoCast via COMTEX) -- The rumor in the trade has provedtrue that China Minsheng Banking Corporation will introduce foreigninvestors. According to the reports of Beijing Youth Daily, theOrient Group Incorporation (OGI) on May 14 published anannouncement, disclosing that the OGI board of directors has passedthe resolution to transfer 40,987,872 shares in China MinshengBanking Corporation, 1.22% of the total shares of the bank, to theInternational Finance Corporation (IFC). If the relevant supervisory departments approve the transfer,China Minsheng Banking Corporation will become the fourth domesticbank that the IFC has a shareholding in.
Earlier, the IFC...
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