General Announcement::DBS TO ACQUIRE A 13% STAKE IN SHENZHEN RURAL COMMERCIAL BANK

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
20-Apr-2021 17:55:04
Status
New
Announcement Sub Title
DBS TO ACQUIRE A 13% STAKE IN SHENZHEN RURAL COMMERCIAL BANK
Announcement Reference
SG210420OTHR71D5
Submitted By (Co./ Ind. Name)
TEOH CHIA-YIN
Designation
GROUP SECRETARY
Description (Please provide a detailed description of the event in the box below)
DBS Group Holdings Ltd wishes to announce that its wholly-owned subsidiary, DBS Bank Ltd ("DBS"), has entered into an agreement and obtained approvals from Monetary Authority of Singapore and China Banking and Insurance Regulatory Commission, Shenzhen Office to subscribe for a 13% stake in Shenzhen Rural Commercial Bank Corporation Limited for RMB 5,286 million (SGD 1,079 million) (the "Investment"). DBS is expected to complete the Investment upon receipt of China Securities Regulatory Commission approval.

Please see attached for more details.

Attachments

DBS TO ACQUIRE STAKE IN SHENZHEN RURAL COMMERCIAL BANK_.pdf
Total size =595K