Spanish lender sells stake in CITIC Bank
Print Edition
Spanish bank Banco Bilbao Vizcaya Argentaria SA has sold a stake worth US$1.27 billion in CITIC Bank Corp, the latest foreign bank to sell a stake in Chinese lenders.
The sale of CITIC Bank’s Hong Kong-listed shares cut BBVA’s holding from 15 to 9.9 percent, CITIC Bank said in a statement yesterday.
CITIC Bank’s parent CITIC Ltd bought the shares, whose value was based on Wednesday’s closing price, raising its stake to 66.95 percent, the statement said.
BBVA will continue to be long-term investor of CITIC, the statement said.
An earlier report by UBS said that selling a 5 percent stake in CITIC Bank could raise BBVA’s capital adequacy by 55 percentage points.
CITIC Bank yesterday rose 2.65 percent in Hong Kong to HK$4.26 (56 US cents) and 0.53 percent in Shanghai to 3.78 yuan (62 US cents).
It is the latest equity sale in domestic banks by foreign lenders which strive to meet the higher capital needs of Basel III.
In September, Bank of America withdrew completely from China Construction Bank by selling 200 million shares for US$1.47 billion. Earlier this year, Goldman Sachs sold the last of its stake in the Industrial and Commercial Bank of China Ltd, grossing US$10.1 billion.
- About Us
- |
- Terms of Use
- |
-
RSS - |
- Privacy Policy
- |
- Contact Us
- |
- Shanghai Call Center: 962288
- |
- Tip-off hotline: 52920043
- 娌狪CP璇侊細娌狪CP澶05050403鍙-1
- |
- 浜掕仈缃戞柊闂讳俊鎭湇鍔¤鍙瘉锛31120180004
- |
- 缃戠粶瑙嗗惉璁稿彲璇侊細0909346
- |
- 骞挎挱鐢佃鑺傜洰鍒朵綔璁稿彲璇侊細娌瓧绗354鍙
- |
- 澧炲肩數淇′笟鍔＄粡钀ヨ鍙瘉锛氭勃B2-20120012
Copyright 漏 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.
