Bank of Guizhou (HKG:6199) plans to acquire a further 153.6 million shares, representing 80% of the total shares of Tongren Fengyuan Town Bank, at nil consideration from other shareholders.

The bank already holds 20% of the target, while the rest are held by nine state-owned enterprises, according to a Monday Hong Kong bourse filing.

After the acquisition, the target will be converted into a bank branch.

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