Member access

4-Traders Homepage  >  Shares  >  SHANGHAI STOCK EXCHANGE  >  Agricultural Bank of China Ltd    601288   CNE100000RJ0

SummaryQuotesChartsNewsAnalysisCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsSector news 

Agricultural Bank of China Ltd : Announcement on The Approval of The Investment in Jiahe Life Insurance Co., Ltd.

11/20/2012 | 05:22am US/Eastern



Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.


AGRICULTURAL BANK OF CHINA LIMITED

(a joint stock company incorporated in the People's Republic of China with limited liability)

(Stock Code: 1288) ANNOUNCEMENT ON THE APPROVAL OF THE INVESTMENT IN JIAHE LIFE INSURANCE CO., LTD.

Reference is made to the announcement on the resolution of the board of directors (the "Board") of Agricultural Bank of China Limited (the "Bank") dated 11 February 2011, in which the Board resolved to acquire 1,036,653,061 newly-issued shares of Jiahe Life Insurance Co., Ltd. ("Jiahe Life") at a consideration of approximately RMB2,592 million (the "Transaction"). After completion of the Transaction, the Bank will hold 51% of the total issued shares of Jiahe Life.
The Transaction has recently been approved by China Banking Regulatory Commission and China Insurance Regulatory Commission. Jiahe Life has also received the approval from China Insurance Regulatory Commission recently in relation to the changes of its registered capital, company name and place of business.
The Bank will follow up on the relevant issues in accordance with the above approvals and publish an announcement on the completion of the Transaction in due course.
By Order of the Board of Directors Agricultural Bank of China Limited LI Zhenjiang

Company Secretary

Beijing, the PRC
20 November 2012

As at the date of this announcement, our executive directors are Mr. JIANG Chaoliang and Mr. ZHANG Yun; our non-executive directors are Mr. SHEN Bingxi, Mr. LIN Damao, Mr. CHENG Fengchao, Mr. LI Yelin, Mr. XIAO Shusheng and Mr. ZHAO Chao; and our independent non-executive directors are Mr. Anthony WU Ting-yuk, Mr. QIU Dong, Mr. Frederick MA Si-hang and Mr. WEN Tiejun.

distributed by
React to this article
Latest news on AGRICULTURAL BANK OF CHINA
05/22 AGRICULTURAL BANK OF CHINA : ABC Sets up Tianjin FTZ Branch
05/22 AGRICULTURAL BANK OF CHINA : ABC Issues the First RMB Bond-type Syndicated Loan ..
05/22 AGRICULTURAL BANK OF CHINA : ABC Fujian FTZ Fuzhou Area Branch Officially Unveil..
05/22 AGRICULTURAL BANK OF CHINA : ABC Steps up Product Innovation to Support Corporat..
05/22 AGRICULTURAL BANK OF CHINA : ABC Builds A Cross-border Business Center
05/14 MOODY : S assigns (p)a1/(p)p-1 ratings to agricultural bank of china limited, ne..
05/08 China pushes for more small business lending despite bad loans rising
05/08 China Minsheng Banking mandates for US dollar senior bond
04/30 Q1 profit growth at all of China's big four banks slows to less than 2%
04/30 Top 5 Banks Q1 Profits Grew Less than 2%, NPL Surged
Advertisement
Chart
Duration : Period :
Agricultural Bank of China Technical Analysis Chart | 601288 | CNE100000RJ0 | 4-Traders
Income Statement Evolution
More Financials