BCMXY Bank of Communications Company Ltd (PK)

17.83

0.00 (0.00%)

29 Jul 2024 - Closed

Delayed by 15 minutes

Name	Symbol	Market	Type
Bank of Communications Company Ltd (PK)	USOTC:BCMXY	OTCMarkets	Depository Receipt

	Price Change	% Change	Price	Bid Price	Offer Price	High Price	Low Price	Open Price	Traded	Last Trade
	0.00	0.00%	17.83	17.30	18.63				2	21:04:24

Bank Of Communications To Raise CNY56.6 Billion In Share Placement

15/03/2012 9:34am

Dow Jones News

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Bank of Communications Co. (3328.HK), China's fifth-largest bank by assets, said Thursday it would raise CNY56.6 billion ($9 billion) in a private placement to boost its capital in order to comply with stricter regulations in China.

The state-run bank, in which HSBC Holdings PLC owns a stake of roughly 19%, said it would issue 6.54 billion yuan-denominated A shares at CNY4.55 each and 5.84 billion Hong Kong dollar-denominated H shares at HK$5.63 each.

At least five institutional investors, including China's Ministry of Finance and HSBC, will take part in the share offering.

HSBC has agreed to subscribe to 2.36 billion shares in the placement for approximately HK$13.26 billion.

-Rose Yu and Fiona Law contributed to this article, Dow Jones Newswires; 8621 6120-1200; rose.yu@dowjones.com