Minsheng Bank's shares sold at high premium

Institutional investors buy 100 million shares.

The shares of China Minsheng Banking Corporation Ltd. were sold at a 6% premium to the closing price on the same day, with the total transaction amount hitting a new high.

China Minsheng, China’s seventh-largest listed bank, is a financial institution which is engaged in corporate, institutional and personal banking sectors in China. It recently signed a partnership agreement with Alibaba Group, China’s largest e-commerce firm.

The tie-up with Alibaba includes cooperating on wealth management and credit card businesses; direct banking and information technology.