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Share a 13 billion yuan in postal savings bank of China

issue a public notice on December 8, with the China postal savings bank (hereinafter referred to as postal savings bank) entered into a share subscription agreement, under the agreement, postal savings bank conditionally agreed to allot and issue, China life conditionally agreed to subscribe for shares of the postal savings bank 334.19 million shares, on for a total of 1,299,999,100 Yuan (the same below), equivalent to 3.89 Yuan/share.

notice that postal savings banks are raising capital and expanding shares in the domestic and foreign strategic investors introduced, this transaction forming part of a postal savings bank investment. Upon completion of the postal savings bank investment, China life will hold a postal savings bank no more than 5% per cent of the enlarged issued share capital. And, upon delivery to payment in cash, and will be determined by China life insurance reserves allocation.

China life view, postal savings bank is a leading retail banks, has a huge network of channels, and retail customer base, its strength of deposits, loans growth and asset structure, the deal is expected to bring to life a solid financial return and appreciation.

also, postal savings bank is an important banking partner of China life, China life as an opportunity to further cooperation with the postal savings bank, supports the development of insurance industry.  But the announcement also prompted, the main risk of a macroeconomic slowdown of the investment risk, interest-rate spreads narrowed after the market-oriented reform of risk impact on traditional banking and Internet financial risks.  

in made shares subscription agreement of same day, Chinese life and mail storage Bank made has China postal savings bank Corporation and China Life Insurance Corporation of strategy cooperation agreement and China postal savings bank Corporation and China Life Insurance Corporation of investors right agreement, former on both of cooperation principles and cooperation field made provides, which on this times trading delivery Hou Chinese life on subscription shares of right and obligations made provides.

founded in 2007 the postal savings bank, whose principal business includes corporate banking, personal banking, financial business and other business approved by the China Banking Regulatory Commission. As of December 31, 2014, the postal savings bank audited total assets 6,298,325,000,000 yuan and net assets of 187.909 billion yuan; 2014, the postal savings bank operating income of 173.379 billion yuan and net profit to 32.567 billion yuan.

according to media sources, postal savings bank in accordance with the State Council, the regulator on postal savings banks and finance shares, fuze, listed "three-step" work requirements, was completed in early 2012 work of reform, promote the strategic investor introduction. Introduced before the war vote, postal savings banks wholly owned by the China Post group, the registered capital of 57 billion yuan.

 

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