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

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...

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