Deutsche Bank raised its stake from 9.9% to 13.7% of issued capital by the capital increase at Hua Xia Bank, announced in March 2008. All in all, Deutsche Bank acquired roughly 267 million new shares for a total price of RMB 3.9 billion (roughly EUR 0.4 billion).
Hua Xia Bank is a nation-wide joint stock commercial bank operating 303 branches in China with headquarters in Beijing. It is listed on the Shanghai Stock Exchange. Deutsche Bank first acquired a stake in Hua Xia Bank in May 2006, and then their collaboration resulted in a joint credit card activity in China.
L.D.