【摘 要】
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On July I8, Shenzhen Development Bank Co Ltd failed to receive an approval from holders of tradable shares to implement its share structure reform, a setback th
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On July I8, Shenzhen Development Bank Co Ltd failed to receive an approval from holders of tradable shares to implement its share structure reform, a setback that dims the outlook of the city-level lender. In order to get 68.82 percent of non-tradable stakes listed on the bourse, the Shenzhen bank offered o.o48 yuan (0.6US cents) a share to tradable share owners as compensation. The proposal was opposed by holders representing 37.28 percent of tradable shares, and 23.79 percent abstained. The China Securities Regulatory Commission has stipulated that listed companies cannot implement their share reform plan unless they first secure two-thirds of votes from tradable share owners.
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