BoCom seeks $9 billion through private placement

The deal will make Bank of Communications the best capitalised bank among its domestic peers, analysts say.

BoCom seeks $9 billion through private placement
Chinese banks are boosting capital to protect against a rise in bad loans

Bank of Communications BoCom, China’s fifth-largest lender by assets, plans to raise Rmb56.6 billion $9 billion in what could be one of the world’s biggest share sales this year. The deal will make Bocom the country’s best-capitalised bank, analysts say.

Although the transaction will be made through a private placement with a dozen institutional investors participating, the massive scale of the offering signals that China remains focused on promoting economic growth and is...

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