CCB mandates six for rights issue

Sources say Bank of America Merrill Lynch, Credit Suisse and Morgan Stanley will be involved in the rights issue which may raise up to $11 billion.

China Construction Bank CCB has, according to sources, mandated six banks to help arrange a rights issue that it has earlier said could raise up to Rmb75 billion $11 billion as the cash calls by the Chinese banks gather pace.

The selection of banks comes after Agricultural Bank of China successfully raised $19.2 billion from its initial public offering and Bank of China announced earlier this month that its up to Rmb60 billion $8.8 billion rights issue will be launched...

To continue reading, please login or register for free

Print Edition

FinanceAsia Print Edition

CONFERENCES

  • Green Bonds Southeast Asia

    25 May 2017  |  Singapore
    With Green Bonds globally reaching USD200 billion outstanding in 2016, from as little as 30bn just 4 years ago, can SE Asia corporations and ...
  • 2nd Compliance Summit Southeast Asia

    17 August 2017  |  Singapore
    The 2017 Compliance Summit Southeast Asia will take an in-depth look at the key compliance considerations today with a focus on regulation and new ...