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Deutsche Bank to increase equity stake in Hua Xia Bank

Deutsche Bank has signed a binding agreement to subscribe to 265.6 million newly issued shares in Hua Xia Bank for a total subscription price of approximately E349 million.

Deutsche Bank’s subscription is part of a private placement of Hua Xia Bank shares to its three largest shareholders with an overall issuance value of approximately E1 billion.

Subject to regulatory approvals, the investment will increase Deutsche Bank’s equity stake in Hua Xia Bank to 13.7% of issued capital from 9.9%.

Rainer Neske, head of private and business clients and a member of Deutsche Bank’s group executive committee, said: This additional investment further demonstrates our commitment to Deutsche Bank’s relationship with Hua Xia Bank which has been very positive and with significant potential for further development.