ING Subscribes for 265 Million Shares in Bank of Beijing
29 Décembre 2017 - 2:21PM
Dow Jones News
By Maryam Cockar
ING Groep NV (INGA.AE) said Friday that it subscribed for 265
million shares worth about 1.89 billion Chinese yuan ($289 million)
in a private placing by the Bank of Beijing Co. Ltd.
(601169.SH).
The Dutch bank said following the private placing its stake in
the Bank of Beijing is down to 13% from 13.6%, but it has
maintained its position as the largest shareholder in the Chinese
bank.
In total the Bank of Beijing issued 2.9 billion shares worth
about CNY21.70 billion during the private placement. Its tier 1
capital ratio--comparing a bank's equity capital to its total
risk-weighted assets--improved after the placing to 10.2% from
8.5%.
ING also said its participation in the private placement won't
have a material impact on its accounts, shareholder equity or
capital ratio.
Write to Maryam Cockar at maryam.cockar@dowjones.com
(END) Dow Jones Newswires
December 29, 2017 08:06 ET (13:06 GMT)
Copyright (c) 2017 Dow Jones & Company, Inc.
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