Postal Savings Bank of China Co., Ltd. Class H (HK:1658) has released an update.
Postal Savings Bank of China Co., Ltd. has announced an RMB8 billion investment in the China Integrated Circuit Industry Investment Fund Phase III, acquiring a 2.33% stake to be paid over 10 years. This strategic move aligns with the bank’s commitment to support the nation’s integrated circuit industry and is expected to bolster the bank’s financial business and contribution to the economy. The fund, with a total capital of RMB344 billion, will focus on financing the integrated circuit industry chain and has secured approval from the National Financial Regulatory Administration.
For further insights into HK:1658 stock, check out TipRanks’ Stock Analysis page.
