Fangda Advises JPMorgan on Contemplated Participating in Capital Increase of CMB Wealth Management
China Merchants Bank Co., Ltd. (“CMB”) has issued a public announcement on March 19, 2021, according to which,
CMB contemplates to bring in a strategic investor JPMorgan Asset Management (Asia Pacific) Limited (“JPMAMAPL”) to increase the registered capital of CMB’s wholly owned subsidiary CMB Wealth Management Co., Ltd. (“CMB Wealth Management”) in cash;
JPMAMAPL will make a capital contribution of around RMB2.667 billion, of which around RMB0.556 billion shall be calculated in the registered capital of CMB Wealth Management. After the capital increase, JPMAMAPL will hold 10% equity interest in CMB Wealth Management; and
Such capital increase shall be filed with China Banking and Insurance Regulatory Commission for approval.
Fangda acted as legal counsel to JPMAMAPL in above matter. The Fangda team was led by partner Zhiyi Ren.