Key Developments: Industrial and Commercial Bank of China Ltd (1398.HK)

1398.HK on Hong Kong Stock

5.28HKD
3:59am EDT
Price Change (% chg)

HK$0.08 (+1.54%)
Prev Close
HK$5.20
Open
HK$5.23
Day's High
HK$5.29
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HK$5.22
Volume
307,851,700
Avg. Vol
223,629,029
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HK$5.66
52-wk Low
HK$4.33

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Latest Key Developments (Source: Significant Developments)

IL&FS Signs Memorandum of Understanding With Industrial And Commercial Bank of China Ltd's Wholly Owned Subsidiary-Business Standard
Wednesday, 24 Jul 2013 06:13am EDT 

Business Standard reported that Infrastructure Leasing & Financial Services Limited signed a Memorandum of Understanding (MoU) with Industrial and Commercial Bank of China (Asia) Limited (ICBC (Asia)) based in Hong Kong. It is a wholly-owned subsidiary of Industrial And Commercial Bank of China Ltd. The MoU will help them in the North and East Asia region for providing infrastructure project development services, including financial services relating to, trade, corporate banking, investment banking and treasury related services, debt raising, advisory and so on.  Full Article

Chang Jiang Shipping Group Phoenix Co Ltd Announces Civil Ruling for Lawsuit Filed by Industrial And Commercial Bank of China Ltd
Thursday, 11 Jul 2013 08:00pm EDT 

Chang Jiang Shipping Group Phoenix Co Ltd announced that it has received a civil ruling from Wuhan Maritime Court for the freeze of deposit of RMB 90 million in total of the Company and a technology subsidiary, due to the application from Wuhan Hankou Branch of Industrial And Commercial Bank of China Ltd.  Full Article

Industrial And Commercial Bank of China Ltd Announces Conversion of Corporate Bonds
Tuesday, 2 Jul 2013 08:00pm EDT 

Industrial And Commercial Bank of China Ltd announced that RMB 2,435,483,000 of its convertible corporate bonds have been converted into 630,313,548 A shares of the Company as of June 30, 2013.  Full Article

Industrial And Commercial Bank of China Ltd to Issue Capital Instruments
Thursday, 27 Jun 2013 08:00pm EDT 

Industrial And Commercial Bank of China Ltd announced that it will issue up to RMB 60 billion write downs-type lever two capital instruments with a term of not shorter than five years, by the end of 2014.  Full Article

Industrial And Commercial Bank of China Ltd Revises Conversion Price of Convertible Bonds
Tuesday, 18 Jun 2013 08:00pm EDT 

Industrial And Commercial Bank of China Ltd announced that it has revised the conversion price of its convertible bonds from RMB 3.77 per share to RMB 3.53 per share, applicable from June 26, 2013.  Full Article

Industrial And Commercial Bank of China Ltd Announces FY 2012 Dividend Payment Date
Tuesday, 18 Jun 2013 08:00pm EDT 

Industrial And Commercial Bank of China Ltd announced that it will pay cash dividend of RMB 2.39 per 10 shares (before tax) for A shares to shareholders for fiscal year 2012 of record on June 25, 2013. The Company's shares will be traded ex-dividend on June 26, 2013 and the dividend will be paid on July 19, 2013.  Full Article

Goldman Sachs Group Inc Raising $1.1 Billion From Sale of Remaining Stake In Industrial & Commercial Bank of China Ltd-DJ
Monday, 20 May 2013 09:02am EDT 

Dow Jones reported that Goldman Sachs Group Inc is selling its remaining stake in Industrial & Commercial Bank of China Ltd. for around USD1.1 billion, exiting an investment it made in China's biggest bank seven years ago. The stake in the bank has been lucrative for Goldman. If the current sale is successful, Goldman would raise more than USD9.7 billion from several block trades of ICBC shares. The Wall Street firm is selling the Hong Kong-listed shares in range of HKD5.47 to HKD5.50 each (70 U.S. cents-71 U.S. cents), representing a discount of 2.5%-3% to Monday's closing price of HKD5.64, according to a term sheet seen by The Wall Street Journal on Monday. The deal is expected to be priced by late Monday Eastern Daylight Time. Goldman Sachs is the sole bookrunner for Monday's share sale, the document said.  Full Article

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).  Full Article

Industrial And Commercial Bank of China Ltd Announces Result of Debt-to-equity Swap
Tuesday, 2 Apr 2013 08:00pm EDT 

Industrial And Commercial Bank of China Ltd announced that its RMB 2,413,456,000 worth of convertible bonds have been converted into 624,079,565 A shares (0.18% of the Company's total shares), as of March 31, 2013. After the conversion, the total number of shares is 349,642,625,392.  Full Article

Industrial And Commercial Bank of China Ltd Announces FY 2012 Dividend Payment
Wednesday, 27 Mar 2013 08:00pm EDT 

Industrial And Commercial Bank of China Ltd announced that it will pay a cash dividend of RMB 2.39 per 10 shares (pre-tax) to shareholders for fiscal year 2012.  Full Article

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With London 'fix' under fire, China seeks bigger sway in gold trade

SINGAPORE - China has approached foreign banks and gold producers to participate in a global gold exchange in Shanghai, people familiar with the matter said, as the world's top producer and importer of the metal seeks greater influence over pricing.

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