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BRIEF-ICBC announces establishment of ICBC Asset Management Co
December 8, 2016 / 10:14 AM / a year ago

BRIEF-ICBC announces establishment of ICBC Asset Management Co

Dec 8 (Reuters) - Industrial and Commercial Bank of China Ltd :

* investment is expected to generate reasonable investment returns for bank

* announcement on the establishment of a wholly-owned subsidiary

* Icbc asset management co., ltd will be dedicated to debt for equity swaps business of bank

* Resolved that bank shall establish icbc asset management co., ltd with an investment of rmb12 billion

* Investment will be financed by bank’s own funds

* icbc asset management co., ltd will be registered in beijing; will operate as a tier-1 wholly owned subsidiary of bank Source text for Eikon: Further company coverage:

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