Newbridge buys into Shenzhen bank
1 October 2002
US-based private equity fund Newbridge Capital will buy a 15 per cent stake in Shenzhen Development Bank, Xinhua reported. Newbridge will buy the shares from state-owned shareholders for Yn1.5bn. As the largest shareholder, Newbridge will appoint the bank's chairman and it has already sent staff to work in the bank.