B · Normal
[Agricultural Bank of China: Plans to introduce China Tobacco and its subsidiaries as strategic investors] On September 6, Agricultural Bank of China (601288.SH) announced that the company’s board of directors reviewed and approved a proposal to introduce China Tobacco Corporation and its relevant subsidiaries as strategic investors by issuing A shares to specific objects, and signed a conditionally effective strategic cooperation agreement and a conditionally effective share subscription agreement. The Ministry of Finance plans to subscribe for 130 billion yuan, China Tobacco plans to subscribe for 10 billion yuan, Jiangsu Tobacco, Zhejiang Tobacco, and Hubei Tobacco each plan to subscribe for 5 billion yuan, Beijing Tobacco plans to subscribe for 3 billion yuan, and Shuangwei Investment plans to subscribe for 2 billion yuan. All funds raised from this issuance, after deducting relevant issuance expenses, will be used to replenish core tier one capital.
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