Banking News
- Guangdong News
Date: 25-May-2007 Sources: (Shenzhen Daily)
SHENZHEN Development Bank Co. has improved the compensation package it is offering holders of its tradable A shares for the second time as it seeks their approval to float its nontradable equity.
The mid-sized bank, which is effectively controlled by U.S. private-equity firm Newbridge Capital, said Thursday that holders of its tradable A shares will receive one free share and 1.5 call warrants for every 10 shares they hold. That is half a warrant more per 10 shares held than it proposed last week. It also lowered the exercise price of the warrants to 19 yuan (US$2.48) a share from 19.89 yuan a share. In July, the bank's shareholders rejected a plan that promised them a cash dividend depending on the bank's share-price movement.
Sponsor Results:
