Bank of Nanjing targets $1.6b sale of pref shares

The Chinese city commercial bank plans a domestic private placement of 100 million preferred shares to help replenish its capital base by raising up to Rmb10 billion.
July 29, 2015

Bank of Nanjing plans to raise up to Rmb10 billion ($1.6 billion) by selling 100 million preferred shares through a domestic private placement, the Chinese city commercial bank said on Wednesday.

¬ Haymarket Media Limited. All rights reserved.

Sign in to read on!

Registered users get 2 free articles in 30 days.

Subscribers have full unlimited access to FinanceAsia.

Not signed up? New users get 2 free articles per month, plus a 7-day unlimited free trial.

Questions?
See here for more information on licences and prices, or contact [email protected].

Related Articles

ICBC bites the preference share bullet

China’s biggest lender sells $5.7 billion of offshore Additional tier-1 notes in three different currencies, obtaining a staggering $28 billion total order book.
December 03, 2014

Ag. Bank of China issues $6.45b in pref shares

Agricultural Bank of China completes the second part of a total Rmb80 billion capital-raising exercise; ICBC is expected to be next as banks beef up their balance sheets.
March 19, 2015

MUFG seeks $10.6 billion from share sales

The re-capitalisation plan comes as share prices continue to plunge and follows the Japanese bank's own $9 billion capital injection into Morgan Stanley.
October 27, 2008