Photo from UNIAN
The National Bank of Ukraine (NBU) has allowed two citizens of the People's Republic of China, Yan Dongcheng and Dai Zhongyong, to buy 99.9% of charter capital in the Ukrainian Bank for Reconstruction and Development (UBRD) through indirect major shareholding, according to the NBU website.
The new shareholders will own their shares in the bank through Boce (Hong Kong) Co., Limited (Ukraine), Boce (Hong Kong) Co., Limited (Hong Kong), Bao Shi (Tianjin) e-commerce Co., Ltd. (China), Tianjin Bohai Commodity Exchange Co., Ltd (China), and Horgos Boxu Equity Investment Limited Partnership (China), the regulator said.
The NBU simultaneously gave preliminary consent for additional capitalization of the UBRD by UAH 244 million (US$9.1 million) under a simplified procedure through additional contributions from Boce (Hong Kong) Co., Limited (Ukraine).
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As UNIAN reported earlier, the State Property Fund of Ukraine (SPF) signed an agreement to sell a 99.9% stake in the Ukrainian Bank for Reconstruction and Development to China's Bohai Commodity Exchange Co., Ltd. (BOCE).
The Ukrainian Bank for Reconstruction and Development was established by a Cabinet decision in May 2003. The government's new strategy for the development of state-owned banks suggests the privatization of the UBRD.
Bohai Commodity Exchange is China's largest spot exchange, founded in 2009 by state-owned companies, Chinese citizens and Tianjin Municipality.