Founder BEA Trust explained

Founder BEA Trust
Type:	subsidiary
Industry:	Financial services
Former Name:	Wuhan International Trust and Investment Corporation
Hq Location City:	Wuhan
Hq Location Country:	China

Founder BEA Trust Co., Ltd. is a Chinese trust company, formerly known as Wuhan International Trust and Investment Corporation (WITIC;).^[1] Founder BEA Trust was a subsidiary of Founder Group for 70.01% stake, with Bank of East Asia owned 19.99%. The third largest shareholder was Wuhan Financial Holdings Group, a company owned by, for 10% stake.^[2] However, in 2016 Wuhan Financial Holdings Group acquired 57.51% stake from Founder Group.^[3] An additional 12.5% stake sold by Founder Group to their associate company China Hi-Tech Group was still pending the approval from China Banking Regulatory Commission, according to the third quarterly report of China Hi-Tech Group in 2016.

Location

WITIC survived the crash of Guangdong International Trust and Investment Corp. (GITIC) in 1998 ^[4]

Notes and References

1. Web site: 关于武汉国际信托投资公司重新登记等有关事项的批复. 2 September 2010. 9 January 2017. China Banking Regulatory Commission (CBRC). Chinese.
2. Web site: 2015 Annual Report. 20 April 2016. 9 January 2017. Founder BEA Trust. Chinese.
3. Web site: 关于方正东亚信托有限责任公司调整股权结构的批复. 4 November 2016. 9 January 2017. CBRC. Chinese. 9 January 2017. https://web.archive.org/web/20170109185113/http://www.cbrc.gov.cn/govView_D6D4490795C140799A9506FC57D0E127.html. dead.
4. http://www.emergingmarketstrategies.com/Guang.htm