Core Viewpoint - Shenyang Shengjing Financial Holding has increased its privatization offer for Shengjing Bank to HK$1.60 per share from an initial offer of HK$1.32, valuing the bank at approximately HK$11.61 billion ($1.49 billion) [1][2]. Group 1: Offer Details - The revised offer for Shengjing Bank's Hong Kong-listed shares is now HK$1.60 per share, up from HK$1.32 [1]. - The bid for Shengjing Bank's domestic shares has been raised to 1.45 yuan, up from the earlier 1.2 yuan [2]. - Shenyang Shengjing Financial has stated that this offer is final with no plans for further revisions [2]. Group 2: Ownership and Stake - Shenyang Shengjing is primarily owned by the Shenyang Municipal Government's Assets Supervision and Administration Commission, holding approximately 37.23% of Shengjing Bank along with its affiliates [2]. - State-owned entities from Liaoning province have intervened to acquire Evergrande's stake in Shengjing Bank through court-ordered auctions [3]. Group 3: Financial Challenges - Shengjing Bank has faced challenges due to its previous association with Evergrande Group, which is set to delist from the Hong Kong stock market [3]. - The bank's financial health has declined since its peak in 2019, with significant drops in revenues and net profits projected for 2024 [5]. - As of the end of 2024, Shengjing Bank reported assets totaling 1.12 trillion yuan [5]. Group 4: Historical Context - In 2021, Evergrande announced the sale of a $1.5 billion stake in Shengjing Bank to alleviate its debt crisis, with Shenyang Shengjing Finance Investment Group purchasing 1.75 billion domestic shares [4]. - By September 2022, government-backed entities had secured Evergrande's stake in the bank via an auction [4]. - In 2023, Shengjing Bank agreed to a significant sale of credit assets to the province's asset management company [4].

For some in Britain, the overhaul of the water industry misses the point. In the view of many on the left and lots of fed-up customers, the original sin was privatisation https://t.co/dAXmvu4SaA ...

For some in Britain, the overhaul of the water industry misses the point. In the view of many on the left and lots of fed-up customers, the original sin was privatisation https://t.co/JNkMSQj99f ...

Industry Perspective - The British water industry overhaul is viewed by some as missing the point, with privatization considered the original sin by many on the left and fed-up customers [1]

For some in Britain, the overhaul of the water industry misses the point. In the view of many on the left and lots of fed-up customers, the original sin was privatisation https://t.co/6kZ1ADU5Wm ...

For some in Britain, the overhaul of the water industry misses the point. In the view of many on the left and lots of fed-up customers, the original sin was privatisation https://t.co/voxNUeCyXu ...