Haitong Bank increases capital after converting State rights
"The new shares issued under the share capital increase were fully allocated to the Bank’s sole voting shareholder, Haitong International Holdings Limited," the bank announced in a statement.
Haitong Bank increased its capital by €2.6 million – to a total of €847.3 million – in an operation resulting from the conversion of rights attributed to the Portuguese state and acquired by Haitong International Holdings, the bank’s sole shareholder.
“Haitong Bank, S.A. (“Bank”) informs that a resolution has been passed today to increase its share capital, resulting from the conversion of the rights attributed to the Portuguese State and which were acquired by Haitong International Holdings Limited, the Bank’s sole voting shareholder, relating to the fiscal year 2015, issued under the REAID (Regime Especial aplicável aos Ativos por Impostos Diferidos – Deferred Tax Assets Special Regime) approved by Law no. 61/2014 of August 26, as amended by Law no. 98/2019 of September 4,” announced the bank, in a statement published in the Portuguese Securities Market Commission (CMVM).
The bank explains that “the share capital increase was carried out in the form of incorporation of the special reserve set up under article 8(1) of the REAID, in the amount of €2,630,305.00”, through “the issue of 526,061 ordinary shares, corresponding to the number of conversion rights previously allocated to the Portuguese State and acquired by Haitong International Holdings Limited, with a nominal value of €5.00 each.”
According to Haitong, this capital increase has a premium of €757.9 thousand, which is “incorporated in a special reserve subject to the regime of legal reserve under the terms of article 295 of the Portuguese Commercial Companies Code.”
As a result, the Bank’s share capital now amount to €847,399,305.00 and its statutes “have been amended accordingly.”
“The new shares issued under the share capital increase were fully allocated to the Bank’s sole voting shareholder, Haitong International Holdings Limited, a company incorporated in Hong Kong, a subsidiary of Haitong Securities Co., Ltd. (a company whose shares are admitted to trading on the Shanghai Stock Exchange and The Stock Exchange of Hong Kong Limited), by virtue of this company having acquired all the conversion rights that were attributed to the Portuguese State relating to the 2015 fiscal year,” the bank added.
