2007-10-26 Chengdu
Chengdu City Commercial Bank (Chengdu Bank) yesterday attracted Malaysia-based Hong Leong Bank Berhad to invest in its share capital expansion, thus paving the way for sound development of Chengdu Bank. Hong Leong Bank yesterday subscribed RMB650 million news shares of Chengdu Bank at RMB3 apiece yesterday, totaling RMB1.95 billion and representing share ownership of 19.99% in Chengdu Bank after the share capital expansion. Chengdu Bank is the 10th city bank in China which has successfully introduced foreign investors for reform. The two sides said yesterday that they would jointly focus on the cooperation in areas involving corporate management, product development, risk management, financial control, human resources and information technology, among others. Hong Leong will take this opportunity to complete its first bank investment project over nearly 30 years in mainland China and make achievements in retail banking, real estate, stock market investment and financing sectors, said Kwek Leng Hai, a director of Hong Leong Bank.
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