Key Developments: Industrial and Commercial Bank of China Ltd (IDCBY.PK)
12.31USD
18 Jun 2013
$-0.14 (-1.12%)
$12.45
$12.27
$12.45
$12.27
69,720
72,511
$15.45
$10.20
Latest Key Developments (Source: Significant Developments)
Industrial And Commercial Bank of China Ltd Revises Conversion Price of Convertible Bonds
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
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
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
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
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
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
Goldman Sachs Group Inc Sell $1 Billion Stake in Industrial and Commercial Bank of China Ltd-NYT
The New York Times reported that Goldman Sachs Group Inc is selling a $1 billion stake in Industrial and Commercial Bank of China. Under the terms of the deal, Goldman will sell shares in the Chinese bank at HKD5.77 ($0.74 ) each. The exact number of shares has yet to be confirmed. The share sale represents around a 3% discount to the bank’s closing share price on January 28, 2013. Full Article
Commonwealth Bank of Australia, Industrial and Commercial Bank of China Ltd And Others Eye Rabobank's Indonesia Unit-Reuters
Reuters reported that Commonwealth Bank of Australia, Industrial And Commercial Bank of China Ltd and Qatar National Bank SAQ are among the suitors expected to submit preliminary bids to buy Rabobank's Indonesian unit in a $400 million deal. First-round bids are due by the end of January, and some suitors are already working with financial advisers to place indicative proposals. The strong line-up for Rabobank's Indonesian business reflects foreign banks' interest in increasing their presence in Southeast Asia's biggest economy, where more than half the population of 240 million still do not have bank accounts. Financial terms and conditions of the deal were not disclosed. Full Article
Industrial And Commercial Bank of China Ltd Announces Completion Of Acquisition Of Controlling Stake In Standard Bank Argentina
Industrial And Commercial Bank of China Ltd announced that in reference to the announcements dated August 5, 2011 and November 12, 2012 issued by the Bank. On August 5, 2011, the Bank entered into a memorandum of agreement in relation to the purchase of 80% of the shares in each of Standard Bank Argentina S.A., Standard Investments S.A. Sociedad Gerente de Fondos Comunes de Inversión and Inversora Diagonal Sociedad Anónima, together with Standard Bank Argentina and Standard Investments, (the Target Companies) with Standard Bank London Holdings Plc (now Standard Bank London Holdings Limited) (SBL) and Holding W-S De Inversiones S.A. (together with SBL, the Sellers), and the Sellers’ guarantors, Standard Bank Group Limited, members of the Sielecki Family and members of the Werthein Family. All the conditions precedent for the transaction have been fulfi lled and the transaction was completed on November 30, 2012. After the completion of the transaction, the parties will make a price adjustment to the purchase price that the Bank paid on the closing date to refl ect the changes to the net asset value of the Target Companies from December 31, 2010 to the closing date. The final purchase price will be determined according to the price adjustment and the purchase price will be less than USD650 million. Full Article
Industrial And Commercial Bank of China Ltd Obtains Approval to Set up Saudi Arabia Branch and Kuwait Branch
Industrial And Commercial Bank of China Ltd announced that it obtained the approval from Central Bank of Saudi Arabia and Kuwait to set up branches in Saudi Arabia and Kuwait. Full Article
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