ANZ completes sale of 20% stake in Shanghai Rural Commercial Bank LeapRate

ANZ completes sale of 20% stake in Shanghai Rural Commercial Bank

ANZ to buy-back $1.5bn shares as part of capital management plan ANZ Bank New Zealand today announced it has completed the sale of its 20% stake in Shanghai Rural Commercial Bank (SRCB), originally announced in January 2017. As part of the Group’s broader capital management plan, ANZ now intends to buy-back up to $1.5 billion…

January 03, 2017 BY Valentina Kirilova

ANZ sells its 20% stake in Shanghai Rural Commercial Bank

Commercial banking company Australia and New Zealand Banking Group Limited, commonly called ANZ (ASX:ANZ), today announced it had reached agreement to sell its 20% stake in Shanghai Rural Commercial Bank (SRCB) to China COSCO Shipping Corporation Limited and Shanghai SinoPoland Enterprise Management Development Corporation Limited. The agreement will see COSCO and Sino-Poland Enterprise each acquire…

Tag: SRCB

ANZ completes sale of 20% stake in Shanghai Rural Commercial Bank

ANZ sells its 20% stake in Shanghai Rural Commercial Bank

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