China Merchants Bank plans rights issue

The pipeline of financial sector deals continues to grow as China Merchants Bank announces plans to raise $5.4 billion from a rights issue.

China Merchants Bank plans rights issue
Photo: ImagineChina

China Merchants Bank CMB plans to raise up to Rmb35 billion $5.4 billion from a rights issue of A- and H-shares as it tries to boost its reserves to meet new capital adequacy requirements. The rights issue will hit the market in September at the earliest, according to a statement the bank made yesterday, adding further to the amount of capital-raising in the financial sector during the second half of this year.

CMB’s rights...

To continue reading, please login or register for free

Click for more on: rights issue | ipo | banks | financials | insurance | cicc | credit suisse | hsbc | picc

Print Edition

FinanceAsia Print Edition

CONFERENCES