China's Harbin Bank shares rise after state takes control in deal worth $2b

China's Harbin Bank shares rise after state takes control in deal worth $2b

Commercial buildings including the China Central Television (CCTV) Headquarters, center, stand in the central business district of Beijing. Photographer: Tomohiro Ohsumi/Bloomberg

Shares of Harbin Bank, a midsize lender with links to the troubled conglomerate Tomorrow Holdings, rose more than 9% on Monday as state-backed investors became its key shareholders in a $2 billion deal.

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