这家港股农商行，拟退市！国资股东将溢价收购

Core Viewpoint - Jilin Jiutai Rural Commercial Bank plans to delist from the Hong Kong Stock Exchange following a takeover offer from Jilin Financial Holding Group, which aims to acquire all issued H-shares and domestic shares of the bank, transitioning it to a fully state-controlled entity [1][2][6]. Summary by Sections Acquisition Details - Jilin Financial Holding Group intends to make a voluntary conditional cash offer for all issued H-shares at HKD 0.70 per share and for domestic shares at RMB 0.63 per share [2]. - The offer price for H-shares represents a premium of approximately 70.73% over the last trading price of HKD 0.41 per share [3]. - If the offer is fully accepted, the total cash consideration for the acquisition will be approximately RMB 32.06 billion, including about RMB 6.18 billion for H-shares and RMB 25.88 billion for domestic shares [3]. Financial Performance and Market Position - As of September 2024, Jiutai Rural Commercial Bank has total assets of RMB 262.08 billion and an issued share capital of 5.074 billion shares, with H-shares accounting for approximately 967 million shares [1]. - The bank is currently facing financial challenges, with a projected net loss of between RMB 1.7 billion and RMB 1.9 billion for 2024, attributed to reduced interest income and increased provisions for credit risk [7][8]. Strategic Rationale for Delisting - The bank's management believes that delisting will reduce compliance costs and allow for strategic adjustments in operations, focusing on local market needs [6][7]. - Post-acquisition, Jilin Financial Holding Group has no plans to list the bank's shares on other markets, emphasizing a commitment to regional operations and maintaining existing business structures [7]. Shareholder Approval Process - A shareholder meeting will be convened to approve the delisting proposal, with a requirement that if more than 10% of H-share shareholders oppose the offer, it will not proceed [4].