Huaxia Bank denies refinancing report
14/11/2003 16:38
Citing its president Liu Haiyan, who was in Beijing attending an economic
forum, a report last Friday said that Huaxia Bank plans to launch another
financing program.
The Shanghai-listed bank today issued a public
statement denying the media report and attempting to quell market reactions to
the plan and the resulting price fluctuations of its shares, today's
International Finance News said.
The report sparked a strong market worry
that the plan will be carried out very soon and that the bank's share price will
accordingly devaluate. It has led to a rush of share selling.
Huaxia's
statement said the financing plan referred to by its president is only concerned
with the lender's long-term strategy for five or 10 years rather than in a near
future.
Meanwhile, according to the country's securities regulation, the
company is unlikely to be approved for the second financing plan shortly after
its initial offering three months ago, the company stated.
Jane Chen / Shanghai Daily news
|
