"Congratulations, master, for receiving a negative rating. We hereby reward you with 16% equity in Hai City Bank, making you the largest shareholder. The equity transfer documents will be sent to your home tomorrow morning. Please remember to check your mail."
A slight smile appeared at the corner of Mr. Yang's mouth as he quickly checked out the situation with Hai City Bank.
Hai City Bank, a listed company, has a total share capital of 14.2 billion shares and a current market value of 80.4 billion.
Previously, Hai City United Investment Co., Ltd. held 15.1% of the shares, making it the largest shareholder.
Hai City United Investment Co., Ltd. belongs to Hai City's State-owned Assets Supervision and Administration Commission.
Hai City State-owned Assets Supervision and Administration Commission also holds, directly and indirectly, nearly 60% of Hai City Bank's equity through various district finance offices in Hai City and investment companies controlled by the commission.
