Tag: finance

Australia & New Zealand Banking Corp. agreed to sell its 20 percent stake in Shanghai Rural Commercial Bank Co. for A$1.84 billion ($1.33 billion), Chief Executive Officer Shayne Elliott’s latest move to unwind an Asian expansion that sapped profits. ( read original story ...)

Shanghai Rural contributed $259m to ANZ’s post-tax profit in the last financial year. Moreover, if ANZ goes through with the selldown of the rest of its minority Asian bank stakes, as planned, that earnings hole would grow to around 10 per cent ... ( read original story ...)

China is now trying to connect the Shanghai stock exchange with the one in London ... After Chinese capital is introduced to Pakistan's bourse, the market will be more internationalized and capital that flows to the country will likely to benefit the ... ( read original story ...)

PwC said that the value of IPOs in 2016 fell by 5.2 percent to 150.4 billion yuan ($21.6 billion). [Photo/IC] The number of initial public offerings on the Shanghai and Shenzhen stock markets is expected to increase rapidly in the current year－and their ... ( read original story ...)

Hong Kong led the world in terms of amount of funds raised by initial public offerings (IPOs) in 2016 despite a substantial decline from 2015, leaving Shanghai and New York a distant second and third respectively, according to PwC. Total funds raised by ... ( read original story ...)

SYDNEY (Reuters) - Australia and New Zealand Banking Group Ltd said on Tuesday it will sell its 20 percent stake in Shanghai Rural Commercial Bank Co Ltd for A$1.8 billion ($1.3 billion), as part of its broader sell-down of Asian assets. "The sale reflects ... ( read original story ...)

The ANZ Bank has sold its 20% stake in Shanghai Rural Commercial Bank for $1.838 billion, about three times what it paid for it. The sale is another key move in its exit from retail banking and greater emphasis on institutional customers in Asia. ( read original story ...)