XIAMEN FIT IMPORT & EXPORT CO., LTD.
Minsheng Banking to set up fund management JV
click rate:2799 issue time:2007-03-10 08:12
Feb. 166, 2007 (China Knowledge) – China Minsheng Banking Corp. <600016> has received approval from the China Banking Regulatory Commission (CBRC) to set up a fund management joint venture (JV) with Royal Bank of Canada and a China Three Gorges-controlled finance firm.


Royal Bank of Canada will hold 30% in the JV, while China Minsheng Banking will hold 60%. The remaining 10 pct will be held by the Three Gorges unit.


China Business News cited a separate source as saying that China Minsheng has chosen the companies to which it will issue new shares via private placement, but foreign institutional investors are not on the list.