SPD Bank shareholder boosts stake to cap planned increase

Shanghai Pudong Development Bank (SSE: 600000) announced that Shanghai State-owned Assets Operation Co., Ltd. (referred to as "Guozi Jingying"), a wholly-owned subsidiary of Shanghai International Group and its first major shareholder, completed its planned increase in the company's stake on March 4, 2025. Between December 19, 2024, and March 4, 2025, Guozi Jingying acquired 93,999,979 shares via the Shanghai Stock Exchange's centralized trading system, representing 0.32% of the bank's total share capital. This brings their total holding to 29.99%. The purchase concludes the planned increase, which had a target range of 47 to 94 million shares. This acquisition demonstrates confidence in the bank’s management and future growth prospects.