ADB TO BE SHAREHOLDER OF HANGZHOU CITY COMMERCIAL BANK
AsiaInfo Services, June, 2006
AsiaInfo Services 06-23-2006 ADB to Be Shareholder of Hangzhou City Commercial Bank HANGZHOU, Jun 23, 2006 (SinoCast via COMTEX) -- It is known that as the strategic investor, Asian Development Bank (ADB) will buy shares of Hangzhou City Commercial Bank. At present, the negotiation of this trade between both sides has nearly ended, and the final completion of this trade will be at the beginning of July. It is known that ADB is the second strategic investor of Hangzhou City Commercial Bank, in the earlier days, Commonwealth Bank of Australia (CBA), the biggest bank in Australia, bought 19.9% equities of Hangzhou City Commercial Bank at the price of AUD 100 million. In October of 2005, ADB bought shares of Bank of China (BOC) with USD 75 million, and it was also...
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