On August 27, the Zhejiang branch of the National Financial Regulatory Administration issued an approval regarding the equity change of United Bank, allowing Zhejiang Orient Holdings Group Co.,Ltd. to acquire 87,218,518 shares of the bank held by Zhejiang Provincial International Trade Group Co., Ltd.
Following the transfer, Zhejiang Orient Holdings Group Co.,Ltd. will hold a total of 173,128,758 shares in the bank, representing a shareholding ratio of 7.94%.
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