Chinese smaller lenders rush for preferred shares

More middle-and small-sized Chinese banks are planning to issue preferred shares. However, there are challenges for such issuance.

Chinese smaller lenders rush for preferred shares

Mid- and small-sized Chinese banks, under capital pressure, are looking to issue preferred shares, following the lead of large state-owned groups that are aggressively raising funds in capital markets.

China Citic Bank and China Guangfa Bank are the latest to look to preferred shares, and are close to drawing up proposals for issuances, according to two sources close to the companies.

The size of their proposed issuance could be Rmb15 billion to...

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