• Register
Return to: Home > News > Strategy > Fosun raises stake in Portuguese lender BCP to 24%

Fosun raises stake in Portuguese lender BCP to 24%

Chinese conglomerate Fosun has increased its stake in Portuguese lender Banco Comercial Portugues (BCP) to 23.92% as a result of the lender's €1.33bn rights issue.

"The Board is pleased to announce that, as at the date of this announcement, Chiado (Luxembourg) S.à r.l., an indirect wholly-owned subsidiary of the Company, holds approximately 23.92% of the share capital of BCP. The total consideration under the Rights Issue Subscription amounted to approximately EUR374million,” Fosun said in a statement.

Fosun acquired an initial stake of 16.7% in the Portuguese bank in last November for a total consideration of €174.6m.

At the same time, the conglomerate also unveiled plans to raise its stake in BCP to up to 30%. Fosun holds the stake in BCP through its subsidiary Chiado (Luxembourg).

 

Top Content

  • RBC net income rises 9% in Q2

    Royal Bank of Canada (RBC) has reported a net income of CAD2.81bn for the second quarter of 2017, up 9% from CAD2.57bn in the same quarter of the previous year.

    read more
  • CIBC retail and business banking unit net income dips in Q2

    The retail and business banking arm of Canadian Imperial Bank of Commerce (CIBC) posted net income of CAD647m for the second quarter of 2017, a fall of 1% compared to CAD652m in the same period last year.

    read more
  • TD Bank Canadian retail unit net income rises 7% in Q2

    TD Bank Group's Canadian retail unit has reported net income of CAD1.57bn for the second quarter of 2017, up 7% from CAD1.46bn in the corresponding quarter of the previous year.

    read more
  • Dubai to grant temporary financial services licence to fintech firms

    Dubai Financial Services Authority (DFSA) has decided to allow fintech firms to apply for a restricted financial services license to foster innovation in Dubai.

    read more
  • Archover secures full FCA authorisation

    ArchOver, a P2P business lending platform in the UK, has received full authorisation from Financial Conduct Authority’s (FCA) to function as P2P lending platform.

    read more
Privacy Policy

We have updated our privacy policy. In the latest update it explains what cookies are and how we use them on our site. To learn more about cookies and their benefits, please view our privacy policy. Please be aware that parts of this site will not function correctly if you disable cookies. By continuing to use this site, you consent to our use of cookies in accordance with our privacy policy unless you have disabled them.