General Announcement::Investment in Postal Savings Bank of China

Issuer & Securities

Issuer/ Manager
DBS GROUP HOLDINGS LTD
Securities
DBS GROUP HOLDINGS LTD - SG1L01001701 - D05
Stapled Security
No

Announcement Details

Announcement Title
General Announcement
Date &Time of Broadcast
09-Dec-2015 17:34:42
Status
New
Announcement Sub Title
Investment in Postal Savings Bank of China
Announcement Reference
SG151209OTHRRYOJ
Submitted By (Co./ Ind. Name)
GOH PENG FONG
Designation
COMPANY SECRETARY
Description (Please provide a detailed description of the event in the box below)
DBS Group Holdings Ltd (the "Company") wishes to announce that its wholly-owned subsidiary, DBS Bank Ltd ("DBS Bank"), has agreed to invest approximately RMB 1,550m (S$340m) to acquire less than 1% stake in the Postal Savings Bank of China ("PSBC"). The China Banking Regulatory Commission has on 8 December 2015 approved PSBC's plan to issue new shares to a consortium of investors, including DBS Bank. Completion of the investment by DBS Bank will take place by 31 December 2015.

The above transaction is not expected to have any material impact on the Company's financial position for the financial year ending 31 December 2015. None of the directors of the Company has any interest, direct or indirect, in the transaction.