Deutsche Bank completes capital increase at Hua Xia Bank
Deutsche Bank (XETRA: DBKGN.DE/ NYSE:DB) announced today that it has completed the capital increase at Hua Xia Bank, which was announced in March 2008. Through the capital increase, Deutsche Bank's stake has risen from 9.9% to 13.7% of issued capital. All in all, Deutsche Bank acquired roughly 267 million new shares for a total price of RMB 3.9 billion (roughly EUR 0.4 billion). The subscription was part of a private placement of shares with the three biggest shareholders in Hua Xia Bank.
Deutsche Bank first acquired a stake in Hua Xia Bank in May 2006. In June 2007, the two business partners successfully launched a joint credit card activity in China. Hua Xia Bank is a nation-wide joint stock commercial bank with headquarters in Beijing. It is listed on the Shanghai Stock Exchange. With over 10,000 employees and its national banking license, it operates 303 branches in China.
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