①Bank of China's 0.021% equity stake was listed for transfer at a floor price of 36.3 million yuan, with the company's corresponding total valuation exceeding 170 billion yuan; ②China Telecom plans to exit Bank of China, and the company is currently listing the withdrawal of equity from several other financial institutions.
Caifinews September 27th (Reporter Zou Juntao) On the morning of September 27th, the Shanghai United Property Exchange website revealed that China UnionPay Co., Ltd. (referred to as "China UnionPay") 2.089572 million shares (0.021% of the total share capital) were publicly listed for transfer starting today. The disclosure period for this information is from September 27, 2024, to October 29, 2024.
Caifinews reporters noted that the floor price for the above-mentioned equity transfer is 36.3 million yuan. Based on this, China UnionPay's current total valuation has reached 172.857 billion yuan.
China UnionPay's corresponding valuation has exceeded 170 billion.
Information shows that China UnionPay was established and listed in Shanghai on March 26, 2002, with a joint investment from 85 institutions including China Banknote Printing and Minting Corporation, Industrial and Commercial Bank of China, Agricultural Bank of China, Bank of China, China Construction Bank, and Bank of Communications.
In recent years, China UnionPay's shareholders have changed multiple times, and the company's equity valuation has continued to rise.
In December 2011, CITIC Trust listed its holding of 23 million shares of China UnionPay for transfer, eventually transferring them to Shanghai Financial Development Investment Fund (Limited Partnership) at an agreed price of 0.311 billion yuan. The transaction price per share of China UnionPay was approximately 13.5 yuan, corresponding to a UnionPay valuation of 39.6 billion yuan.
In September 2013, Buffett Investment Limited listed the transfer of 5 million shares of China UnionPay on the Shanghai United Property Exchange, accounting for 0.17% of the total share capital. The listing price was 95 million yuan, and the transfer price was 19 yuan per share, corresponding to a UnionPay valuation of 55.7 billion yuan.
In November 2017, Cangzhou Rural Credit Cooperatives Union proposed to transfer all of China UnionPay's 0.102376% equity (3 million shares) at a listing price of 75.03 million yuan, corresponding to a UnionPay valuation of 73.3 billion yuan.
In January 2018, Silver Grant's wholly-owned subsidiary, Beijing Donghuan Real Estate Co., Ltd., proposed to transfer 0.195 billion yuan of China UnionPay's equity, equivalent to 0.256%, to a third-party buyer for a total of 7.5 million shares, corresponding to a UnionPay valuation of 76.2 billion yuan.
Financial Association reporters noted that over the past nearly 13 years, China UnionPay's valuation in the equity trading market has increased from nearly 40 billion yuan to over 170 billion yuan, a valuation growth of over 3 times.
According to the listing announcement, as of the end of 2023, China UnionPay achieved revenue of 47.238 billion yuan, net income of 14.3 billion yuan, and total assets of 333.7 billion yuan; as of the end of June 2024, China UnionPay achieved revenue of 20.225 billion yuan, net income of 9.514 billion yuan, and total assets of 206.211 billion yuan.
China Telecom plans to "clear out" its equity transfer.
The listing announcement shows that the equity transferor this time is China Telecom Group Co., Ltd. (referred to as "China Telecom"). It is worth mentioning that after the successful equity transfer this time, China Telecom will no longer hold shares of China UnionPay.
The announcement requires that the intended transferee must be a legal entity or other economic organization validly established and existing in China; the project shall not apply for transfer by means of commission, trust, anonymous commission, etc.
Cailian Press noticed that China Telecom and its subsidiaries have recently listed the equity transfer of multiple financial institutions. It is understood that the intensive transfer of equity in financial institutions is related to the "Golden Retreat Order" policy.
As shown on the Shanghai United Property Rights Exchange website, on September 13, China Telecom listed the transfer of 24.6 million shares of Hankou Bank Limited (0.51% of the total share capital), with a transfer floor price of 130.1741 million yuan.
As shown on the Beijing Property Rights Exchange website, the China Telecom subsidiary Tianyi E-commerce Co., Ltd. is currently listing the transfer of 41.1765% equity (420 million shares) of Chongqing Zhongan Microfinance Co., Ltd. and the 100% equity transfer of Tiantian Insurance Agency Co., Ltd., with the information disclosure period from July 22, 2024, to April 4, 2025.
