BoCom rights offer
By Zhang Fengming |
April 21, 2010, Wednesday
|
Print Edition
Print Edition
SHAREHOLDERS of the Bank of Communications have approved the bank's plan to raise as much as 42 billion yuan (US$6.15 billion) through a rights offering to replenish capital.
The Shanghai-based bank will offer 1.5 shares for every 10 held in a rights offer for investors in Shanghai and Hong Kong, the lender said yesterday.
The offer is pending regulatory approval and the bank hasn't disclosed the timing and pricing of the offer.
The bank will also offer a cash bonus of 0.10 yuan for each A-share and H-share holder, which will amount to 4.9 billion yuan.
The Shanghai-based bank will offer 1.5 shares for every 10 held in a rights offer for investors in Shanghai and Hong Kong, the lender said yesterday.
The offer is pending regulatory approval and the bank hasn't disclosed the timing and pricing of the offer.
The bank will also offer a cash bonus of 0.10 yuan for each A-share and H-share holder, which will amount to 4.9 billion yuan.
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