China Merchants Bank rights issue draws closer

The bank received CSRC approval last month and its A- and H-shares are now trading largely on par, which improves the chances of a successful deal.

An 11.6% rally in China Merchants Bank’s Hong Kong-listed shares over the past two sessions has greatly improved the chances that the Chinese lender will finally be able to complete its long-awaited rights issue. At the very least it has removed one of the potential hurdles for the transaction.

¬ Haymarket Media Limited. All rights reserved.

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