Gelonghui November 8th | China CITIC Financial Assets (02799.HK) announced that in recent years, the company has seized market opportunities to carry out a series of investment allocations, achieving positive results. To maximize shareholder interests, the company plans to further optimize the investment path and increase investment intensity based on the initial investment.
The company plans to engage CITIC Securities and China CITIC Securities Co., Ltd. as professional consultants to further promote the investment allocation program within a total investment scale not exceeding RMB 50.3 billion: ① Further purchase 4.88% of CITIC's shares for RMB 11,266,222,182.90 through signing a share transfer agreement; ② Further purchase shares of Bank of China for no more than RMB 26 billion; ③ Further purchase shares of China Everbright Bank for no more than RMB 4 billion; and ④ Entrust CITIC Trust (as trustee), CITIC Securities (as advisor), China Securities Co., Ltd. (as advisor), and Bank of China (as custodian) to establish a single asset service trust for investment not exceeding RMB 20 billion. In addition, except for the 3-year term of the trust product in item ④, transactions in items ① to ③ are planned to be implemented within 12 months from the date of formal approval at the extraordinary general meeting in this proposal. If not completed within this period, the company will perform additional corporate governance procedures as needed.
