Source: Panorama Network | Author: Lei Zhen Release Time: 2015 June14 June 17:38.
Panorama Network June 14 China Pacific Insurance (CPIC) announced on Sunday afternoon that its holding subsidiaries, Pacific Life Insurance and Pacific Property Insurance, intend to subscribe for 30 billion shares and 2 billion preferred shares to be issued by China Railway Development Fund Co., Ltd. (hereinafter referred to as Railway Development Fund) respectively, and signed investments with China Railway Corporation and other investors on June 13.
The Railway Development Fund was formally established in September 2065438+2004. After this capital increase, the registered capital will reach188.2 billion yuan, and the company will operate for 20 years. The main business scope involved includes: investment and management, investment consulting and related services of railway construction projects and railway land comprehensive development and operation projects.
In 20 15, the Railway Development Fund plans to issue 125 billion shares (par value per share 1 yuan) by increasing capital and shares, including 55 billion shares to China Railway Corporation and 70 billion shares to social investors. The subscribed shares of Pacific Life Insurance and Pacific Property Insurance account for 38.36% and 2.56% of the total number of preferred shares after their issuance, respectively.
The time limit for the Railway Development Fund to issue preferred shares this time is 15 years. During this period, China Railway Corporation guarantees that preferred shareholders will get a fixed return as agreed every year. At the expiration of the term, China Railway Corporation will repurchase the preferred shares issued this time in cash according to the original investment amount (par value), and at the same time pay the preferred shares payable in full and on time.
Pacific said that the above investment is to further broaden the investment channels of the company's insurance funds, optimize asset allocation and improve the long-term investment income level.
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