ICBC confirms rights offer while ABC exercises greenshoe

Agricultural Bank boosts its total deal size to $20.8 billion after exercising the greenshoe on the H-share portion of its IPO. Meanwhile, ICBC will seek shareholder approval for a $6.6 billion rights issue on September 15.
July 30, 2010

Industrial and Commercial Bank of China (ICBC) has confirmed that it too will be opting for a rights issue of up to Rmb45 billion ($6.6 billion) instead of a follow-on share sale to the wider investment community, mirroring the plans by Bank of China (BOC) and China Construction Bank (CCB).

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