Article: TWO LISTED COMPANIES EYE MINORITY STAKE IN WEIHAI CITY BANK


AsiaInfo Services
08-17-2007
Two Listed Companies Eye Minority Stake in Weihai City Bank

WEIHAI, Aug 17, 2007 (SinoCast via COMTEX) -- Weihai GuangTai Airport Equipment Co., Ltd. (002111, SZ) and Shandong Homey Aquatic Development Co., Ltd. (600467, SH) released announcements recently, showing their intention to buy a minority stake in Weihai City Commercial Bank.

In line with their announcements, Homey Aquatic wants to spend CNY 56 million purchasing 56 million shares in the city commercial bank.

GuangTai Airport plans to buy 20 million shares at CNY 1 apiece with its self-owned capital, representing for 1.43% of the bank's enlarged capital stock.

The bank, founded in 1997, saw its total ...

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