Executed by way of a share subscription, the transaction gives Hang Seng a 20%stake in the enlarged share capital of Yantai Bank.
Hang Seng will have the right to nominate directors and make personnel recommendations for various senior management positions at the mainland bank.
Hang Seng will also provide technical support in various areas including corporate governance, risk management and personal financial services for Yantai Bank through the secondment of executives, training and job attachments.
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