ICBC tens of billions of privatised silver Asia finalised

Yesterday, ICBC Asia (00349. HK) convened a special shareholder meeting to consider and adopt ICBC (601398.SH,01398.HK) to privatize the ADB Asia programme.　　If all goes well, ICBC Asia will be out of town by 9:30 A.M. on December 21, 2010.　　To integrate its business platform in Hong Kong, ICBC issued a notice on August 10 that it was proposed to privatize ICBC Asia at a price of HK $29.45 per share, at a total cost of HK $10.829 billion (about 9.45 billion yuan). Prior to the announcement of privatization, ICBC's Asian history was the highest closing price of HK $24.18/share.　　As a projection, the price of HK $29.45/share is at a premium of 21.79% over the historical highest price. ICBC Asia, formerly known as Union Bank, was listed on the Hong Kong Stock Exchange on September 1, 1997. ICBC acquired the Union Bank in 2000 and renamed it a ICBC Asia.　　ICBC Asia has 44 retail branches in Hong Kong, 10 financial wealth management centres and 4 business centres, and has 1 overseas branches in Caimas, Is.. ICBC, the bank's Asian controlling shareholder, held about 72.81% of its issued share capital before privatisation. ICBC Asia November 9 suspension, November 8 close to 28.65 Hong Kong dollar, the privatization price than the closing premium of 2.79%.　　ICBC Asia shares will resume trading today, the announcement said. Hong Kong has always been the first stop for the internationalization of Chinese banks, and at present most of the major Chinese banks have branches or independent legal bodies in Hong Kong.　　ICBC in the Hong Kong region's business platform, the Bank of China International investment banking as the main business, ICBC Asia is mainly commercial banking. Before and after 2000, ICBC has not yet listed, Silver Asia as a Hong Kong listed companies can play a financing platform function.　　In 2006, after the success of ICBC A+h stock market, the platform function is difficult to play an advantage. Moreover, with the current low capital adequacy ratio in the bank, capital will be a constraint if it is to expand its size.　　and privatization is beneficial to the business linkage between ICBC and Bank of Asia, and can provide flexible support for the business development of the Bank Asia. ICBC International Finance Limited and Goldman Sachs (Asia) Limited are the joint financial advisers for the transaction. CFP Drawing/Hao Ming