Bank of Lanzhou Co., Ltd. announced that it expects to receive CNY 280 million in funding from Shengda Mining Co.,Ltd.
December 03, 2015
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Bank of Lanzhou Co., Ltd. announced a private placement of not more than 100,000,000 shares at CNY 2.8 per share for gross proceeds of CNY 280,000,000 on December 4, 2015. The transaction will include participation from Shengda Mining Co., Ltd. (SZSE:000603). The company and the investor entered into a capital increase agreement on the same date. The transaction was approved at the 13th session of the 8th directorate of Shengda Mining Co., Ltd. The transaction is further subject to approval from the shareholders of the investor. The company reported revenues of CNY 4,826,617,400, operating profit of CNY 1,995,078,200, total profit of CNY 1,955,097,000, net profit of CNY 1,488,177,300, total assets of CNY 155,162,405,900, total liabilities of CNY 145,745,361,100, and shareholders' equity of CNY 9,417,044,800 for the year ended December 31, 2014.
On December 21, 2015, the company announced that the transaction has obtained approval at the 4th special shareholders' meeting for 2015 of Shengda Mining Co., Ltd.
Bank of Lanzhou Co Ltd is a China-based company mainly engaged in corporate banking business. The Company's businesses also include personal banking business, capital business and other businesses. The corporate banking business mainly includes deposit, settlement, cash management, fixed asset loan, working capital loan, bill discount, acceptance bill, factoring, international business, investment banking, corporate financial management, guarantee and commitment, financial technology and entrusted loan and others. The personal banking business mainly includes demand savings and time savings, large certificates of deposit, personal call deposits and others. The capital business mainly includes short-term capital transactions, inter-bank transactions, investment in fixed income products, various bond investments and others.
BANK OF LANZHOU CO., LTD. 
