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Industrial And Commercial Bank of China Ltd Signs Share Subscription Agreement with Sinopac Financial Holdings Co Ltd


Tuesday, 2 Apr 2013 08:00pm EDT 

Industrial And Commercial Bank of China Ltd (ICBC) announced that it has signed a share subscription agreement with Sinopac Financial Holdings Co Ltd (Sinopac Financial) on April 2, 2013. According to the agreement, ICBC will subscribe a 20% stake in Sinopac Financial for approximately NTD 23.5 billion (RMB 4.9 billion), or a 20% stake in Sinopac Financial's wholly owned subsidiary, Bank SinoPac, for approximately NTD 18.7 billion (RMB 3.9 billion). 

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