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Beijing Bank First Refinancing &Nbsp After Listing, Foreign Shareholder Absent

2011/4/11 10:02:00 41

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Beijing Bank Refinancing Foreign Shareholders

On the basis of planning important matters

Suspension

Two days later, the Bank of Beijing (12.25, -0.37, -2.93%) (601169.SH) announced its first re release last Friday.

financing

Plan.

As a high capital adequacy ratio in the listed banks, the bank's refinancing scheme is beyond market expectations.

Non public issuance of the Bank of Beijing in 2011

The plan shows that the bank intends to raise funds in a non-public offering way of not more than 11 billion 800 million yuan, issuing price of 10.88 yuan / share, and raise funds will be used to supplement core capital after deducting the related issuance costs.

After completing the landing capital market, the capital adequacy ratio of Beijing bank has been in a relatively high level in the industry, but with the development of the business, the capital adequacy ratio of the bank has been decreasing year by year.

The 2010 annual report shows that the capital adequacy ratio of Beijing bank has decreased from 19.66% at the end of 2008 to 12.62% at the end of 2010, and the core capital adequacy ratio has dropped from 16.42% at the end of 2008 to 10.51% at the end of 2010.

Although the above data are still at a high level in the same industry, supervision and monetary policy have raised higher requirements for bank capital quality and level.

"If we fail to complete the refinancing this year, business development in 2012 will be subject to capital constraints."

The Bank of Beijing said that the capital adequacy ratio of the bank would be significantly improved if it could pass smoothly and complete the issue within the year.

However, in the 11 billion 800 million yuan refinancing scheme, 16.07% of Beijing bank's largest shareholder and foreign investment ING were absent, which means that its shareholding ratio will be diluted to a certain extent.

In this regard, Beijing bank chairman Yan Bing Zhu pointed out that the current foreign exchange examination and approval procedures are more complex, the approval time may be more than half a year, Beijing bank hopes to complete the refinancing in the year, so ING failed to participate in it.

The absence of ING gives other new shareholders the opportunity to enter.

The private placement is 3 billion 500 million yuan for Huatai Automobile, 3 billion yuan for 14.92,0.12,0.81%, 2 billion yuan for Taikang Life, 800 million yuan for State Development Investment Corp, and 500 million yuan for China Heng Tian, Huaneng capital, South industrial assets, Shaanxi coal group and Li Qin Investment respectively.