4th Nov 2016 03:14
JSC Halyk Bank / Miscellaneous - Medium PriorityJSC Halyk Bank: JSC Halyk Bank signed memorandum of understanding with ChinaCITIC Bank Corporation Limited 04-Nov-2016 / 05:13 CET/CESTDissemination of a Regulatory Announcement, transmitted by EquityStory.RS,LLC - a company of EQS Group AG.The issuer is solely responsible for the content of this announcement. --------------------------------------------------------------------------- Press Release, 4 November 2016, Almaty JSC HALYK BANK SIGNED MEMORANDUM OF UNDERSTANDING WITH CHINA CITIC BANKCORPORATION LIMITED JSC 'Halyk Bank' ('Halyk Bank') announces that it has reached in-principleagreement on attracting a strategic investor - one of the largest financialinstitutions of the People's Republic of China, China CITIC BankCorporation Limited ('CITIC Bank') to sell 60% of Halyk Bank's shares inJSC 'Altyn Bank' (SB of JSC 'Halyk Bank') ('Altyn Bank'). To formalise this agreement Halyk Bank and CITIC Bank have signed aMemorandum of understanding (the 'Memorandum'). The implementation of the terms and conditions of the Memorandum isexpected during first half of 2017. In order to implement the agreement,the parties to the Memorandum will need, among other things, to obtainnecessary approvals of the competent authorities of the People's Republicof China and the Republic of Kazakhstan and fulfil other conditionscustomary for such type of transaction. The Chairperson of the Management Board of Halyk Bank Mrs. UmutShayakhmetova commented: 'Having a strategic partner would expandopportunities of Altyn Bank in investment banking, trade finance andtreasury, payments in RMB, private and retail banking products, bankingtechnologies. Altyn Bank remains universal bank and will continueimplementation of its strategy on servicing corporate and retail clients.We also expect that this transaction would allow Halyk Group to play a keyrole in implementing projects within Kazakhstan's 'Nurly Zhol' developmentprogram and Chinese initiatives on creation of the Silk Road Economic Belt'One Belt. One Road'. PR-Service of JSC Halyk Banktel. +7 727 2 590 816,[email protected], www.halykbank.kz --------------------------------------------------------------------------- The EquityStory.RS, LLC Distribution Services include RegulatoryAnnouncements, Financial/Corporate News and Press Releases.Archive at www.dgap.de/ukreg --------------------------------------------------------------------------- Language: English Company: JSC Halyk Bank 109V, Abay ave 050008 Almaty Kazakhstan Phone: +7 727 259 04 27 Fax: +7 727 259 04 64 E-mail: [email protected] Internet: http://halykbank.kz ISIN: US46627J3023 WKN: A0LF36 Category Code: MSCM TIDM: HSBK Sequence Number: 3564 Time of Receipt: 04-Nov-2016 / 05:13 CET/CEST End of Announcement EquityStory.RS, LLC News Service --------------------------------------------------------------------------- 517429 04-Nov-2016UK-Regulatory-announcement transmitted by DGAP - a service of EQS Group AG.The issuer is solely responsible for the content of this announcement.
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