CMB seeks to raise $5.68 billion in rights issue

China Merchants Bank, the country's sixth-biggest bank by assets, outlines plan for an A-share and H-share rights issue to boost its capital buffers after a period of unsustainable loan growth.

CMB seeks to raise $5.68 billion in rights issue

China Merchants Bank CMB said it aims to raise $5.68 billion via an A-share and H-share rights issue to fatten its capital buffers.

The issue would be the second-biggest share sale globally so far this year, behind Japan Tobacco's $7.78 billion offering in March, according to data provider Dealogic.
 
The A-share rights offer should total Rmb 28.56 billion, while the H-share offer is HK$7.95 billion.

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