20 January 2019

CITIC Bank denies cooperation deal with Alibaba , filing says

China CITIC Bank Corp. Ltd. (00998.HK, 601998.CN) said in a stock exchange filing Thursday that its cooperation with UnionPay and Alibaba is limited to regular business between the bank and a client, dismissing reports that it has agreed to any equity-related cooperation with the e-commerce giant. The bank said its operations remained normal and it had no information to disclose that is relevant to its share price. The bank said it issued the statement to ease market concerns over the sharp increase in its share price recently, which constituted abnormal price fluctuation based on the Shanghai Stock Exchange’s trading rules.

– Contact HKEJ [email protected]




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