bank of beijing private placement

Bank of Beijing raises $1.9 billion from domestic placement

The city commercial bank sells shares to nine investors at a 10% discount to the 20-day average, while Citic Heavy Industries outlines IPO plans.
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ING is a large shareholder in Bank of Beijing </div>
<div style="text-align: left;"> ING is a large shareholder in Bank of Beijing </div>

Despite the country’s economic uncertainties, China is starting to see large deals coming to its capital markets. Most of the big issuers that have decided to brave the market are banks keen to boost their lending capacity, and infrastructure-related groups with a thirst for working capital both of which play a key role in ensuring China's growth.

Bank of Beijing, one of the most profitable city commercial lenders in China, said yesterday that it has raised Rmb11.8 billion $1.9 billion from a private placement. It is the first time the Beijing-based lender comes to the capital market after its record-breaking Rmb15 billion Shanghai IPO in 2007.

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