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Korea M&A Corporation
China's Shenzhen Bank sells stake to Baosteel 본문
China's Shenzhen Development Bank has agreed to sell a 4.218 billion yuan ($570 million) - BEIJING, Dec 2 - China's Shenzhen Development Bank has agreed to sell a 4.218 billion yuan ($570 million) stake to Baosteel Group, the lender said in a filing to the Shenzhen Stock Exchange.
The private placement would consist of 120 million shares set at a price of 35.15 yuan per share. That compares with Friday's close of 36.08 yuan for its listed shares.
Baosteel is China's largest steel mill and the parent of Baoshan Iron and Steel Co .
Shenzhen Bank, a mid-sized Chinese lender, is partly owned by U.S. investment firm Newbridge Capital.
The private placement would consist of 120 million shares set at a price of 35.15 yuan per share. That compares with Friday's close of 36.08 yuan for its listed shares.
Baosteel is China's largest steel mill and the parent of Baoshan Iron and Steel Co .
Shenzhen Bank, a mid-sized Chinese lender, is partly owned by U.S. investment firm Newbridge Capital.
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