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Weihai City Commercial Bank Co., Ltd. Class H ( (HK:9677) ) has issued an update.
Weihai City Commercial Bank Co., Ltd. has entered into conditional Domestic Share Subscription Agreements with Shandong Hi-Speed Group and Shandong Hi-Speed, agreeing to issue and allot up to 430,030,394 Domestic Shares at a subscription price of RMB3.29 per share. This issuance, aimed at supplementing the bank’s core Tier 1 capital, requires shareholder approval and constitutes a connected transaction under Hong Kong Listing Rules. The bank has established an Independent Board Committee and appointed an independent financial adviser to guide shareholders on this transaction, highlighting its significance in strengthening the bank’s capital base.
More about Weihai City Commercial Bank Co., Ltd. Class H
Weihai City Commercial Bank Co., Ltd. is a joint stock company incorporated in the People’s Republic of China. The bank operates in the financial services industry, focusing on providing banking and financial solutions. It is publicly traded on the Hong Kong Stock Exchange, with a market focus on domestic and international investors.
Average Trading Volume: 6,684
Technical Sentiment Signal: Buy
Current Market Cap: HK$17.46B
For detailed information about 9677 stock, go to TipRanks’ Stock Analysis page.