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Funde Sino Life Insurance increases stake in SPD Bank to 20 pct

BEIJING
2015-12-09 09:55

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Shanghai Pudong Development Bank Co., Ltd. (600000.SH), also known as SPD Bank, announced on Tuesday night that Funde Sino Life Insurance Co., Ltd. had acquired a total of 3.73 billion shares of SPD Bank through the secondary market of the Shanghai Stock Exchange as of Dec.8, representing 20 percent of the total share capital of the bank. SPD Bank opened lower at RMB19.58 Wednesday.

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