first chinese banking acquisition in us (bis)

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All told,Minsheng will pay around $200m for 9.9 per cent of San Francisco-based UCBH in two phases.The initial 4.9 per cent bite is priced at the previous 90-day average closing price;the second may command a slim premium. That is pocket change for Minsheng.UCBH is roughly one-tenth its size in terms of assets,and the first cheque will have little impact on the chinese lender's healthy capital adequacy ratio. Should any strains appear later - subject to approvals,Minsheng has the option to increase its stake to 20 per cent - the lender can tap two of the world's more buoyant capital markets.Minsheng's shanghai-listed shares have almost doubled this year,despite a massive block sale in march,and it is mulling a listing in Hong Kong. (Adjourned......)