Shenzhen Development Bank, a mainland lender controlled by United States buyout firm Newbridge Capital, has sweetened its second plan to compensate minority shareholders for making all state-owned shares tradable.
The bank said it would increase the offer of call warrants by half to 313 million, or 1.5 shares for every share held, to minority stakeholders who owned a combined 72 per cent of tradable shares.
The exercise price was cut to 19 yuan from the 19.89 yuan proposed on May 23.
Half of the warrants could be exercised in 12 months from the original nine months, while the rest remained exercisable in six months.
'The adjustments address the main requests made by holders of tradable shares and provide them attractive benefits after the share reform,' Shenzhen Development Bank said.
Shenzhen Development Bank is one of the mainland's largest-listed firms.
However, it has yet to complete a share reform deadline mandated for the end of last year by the China Securities Regulatory Commission.