Shengjing Bank gets cash offer, H shares to delist

On August 26, 2025, Shenyang Shengjing Financial Holding Investment Group Co. Ltd., as the offeror, announced voluntary conditional cash offers for Shengjing Bank's H Shares and domestic shares, alongside a proposed delisting of H Shares. The H share offer price is HK$1.32 per H share, representing a 15.79% premium over the last trading date's closing price of HK$1.14. The domestic share offer price is RMB1.20 per domestic share.

Full acceptance of both offers would amount to approximately HK$2.97 bn for H shares and RMB3.93 bn for domestic shares, to be financed by the offeror's own resources and/or external financing. CICC, the financial adviser, is satisfied with the offeror's financial resources. The delisting is conditional on shareholder approvals, including at least 75% of votes from independent H shareholders at a class meeting, with no more than 10% voting against.

Trading in Shengjing Bank H Shares, halted on August 15, 2025, is scheduled to resume on August 27, 2025. The offeror and its concert parties currently hold 36.17% of the bank's total issued share capital, comprising 49.29% of domestic shares and 3.96% of H shares. The offers aim to optimize resource allocation, as the bank's H shares have had relatively low trading volume, limiting its ability to raise funds effectively from the equity market.