Bank of East Asia ( (HK:0023) ) has provided an announcement.
The Bank of East Asia announced that certain board members, including Executive Chairman Dr. David LI Kwok-po and Deputy Chairman Professor Arthur LI Kwok-cheung, have acquired a total of 52.8 million shares from Sumitomo Mitsui Banking Corporation (SMBC). This acquisition, representing approximately 2% of the bank’s total issued shares, reflects the board members’ confidence in the bank’s long-term prospects and strategic direction. The transaction aligns with the shareholding cap agreed upon in an investment agreement between the bank and SMBC, and SMBC remains the largest shareholder with a 19.79% stake. The acquisition is not expected to significantly impact the bank’s operations.
More about Bank of East Asia
The Bank of East Asia, Limited, established in 1918 and incorporated in Hong Kong, operates in the banking industry. It provides a range of financial services and products, focusing on the Hong Kong market.
Average Trading Volume: 1,384,406
Technical Sentiment Signal: Buy
Current Market Cap: HK$29.05B
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