Chenxing Development Signs Landmark Investment Agreement with Jinshang Bank
Release date:
Jul 05,2019
On June 27, 2019, the company entered into a cornerstone investment agreement with Jinshang Bank (as the issuer), China Construction Bank International Financial Limited, China International Capital Corporation Hong Kong Securities Limited, and Zhaoyin International Financing Limited (as joint sponsors and joint representatives) for Jinshang Bank’s initial public offering of H shares on the Hong Kong Stock Exchange.
2019 Year 6 Month 27 Day, the company and Jinshang Bank (As the issuer) – China Construction Bank International Finance Limited, China International Financial Hong Kong Securities Limited, and Zhaoyin International Financing Limited (As Joint Sponsor and Joint Representative) Jinshang Bank Completes Initial Public Offering on the Hong Kong Stock Exchange H The cornerstone investment agreement for the stock.
The company will settle the total consideration related to the international offering through the joint representatives. 2200 Millions of U.S. dollars, used to purchase shares issued by Jinshang Bank at the offer price as part of an international offering.
Drive diversified growth and broaden avenues for profit enhancement.
Jinshang Bank complements the company’s development well in terms of customer distribution, business types, and risk preferences. This cornerstone investment marks a significant entry point for the company’s financial strategy, enabling it to further ramp up its investment efforts in the financial sector. It will facilitate the diversified allocation and efficient synergy of the company’s product offerings and management resources, helping the company broaden its avenues for revenue growth—aligning perfectly with both the company’s industrial operations and capital management strategies. “ Dual-wheel drive ” Strategic direction for development.
Carry forward the spirit of Jinshang merchants and help them go public.
As Shanxi Province's sole provincial-level corporate city commercial bank, Jinshang Bank has grown into a joint-stock commercial bank with significant influence among city commercial banks nationwide and within the province's financial sector. Jinshang Bank anticipates 7 The company will officially list on the Main Board of the Hong Kong Stock Exchange this month. At this critical juncture for Jinshang Bank's IPO, Chenxing Development upholds the Jinshang spirit of collaboration and mutual success by subscribing to shares in Jinshang Bank, thereby contributing to the bank's successful listing.
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