The Industrial Bank (601166.SH) announced on Tuesday evening that it had received a notice from its shareholder Hang Seng Bank (00011.HK) which said the latter planned to sell part of its common share holdings in the Industrial Bank.
Hang Seng Bank will sell 4.99 percent of Industrial Bank's total common shares at most to several institutional investors at 17.68 yuan per share via the block trading system of the Shanghai Stock Exchange, After the deal, Hang Seng Bank will hold 0.88 percent of Industrial Bank's common shares.
According to Hang Seng Bank's announcement made Tuesday on the Hong Kong bourse, it will raise a maximum of 13.81 billion yuan via the share sale.
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