Minsheng Bank raises $1.44 billion from H-share placement

The Chinese lender beats a number of other financial sector issuers expected out of China this year. Also in the market yesterday was Far East Horizon, which sold $371 million of new shares.

Minsheng Bank raises $1.44 billion from H-share placement
Minsheng Bank Building in Wuhan

More than a year after Minsheng Banking Corp announced that it planned to replenish its capital base through the sale of H-shares and A-share convertible bonds, the Chinese bank was finally able to complete the first part of the plan yesterday. The bank raised HK$11.2 billion $1.44 billion from a placement of new H-shares, making use of the first opportunity to hit the market after getting regulatory approval for the sale.

Minsheng received approval...

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