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| 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 |
From Jul 2019 to Jul 2024
HSBC Holdings PLC (HBC) said Thursday it has agreed to subscribe to HK$13.26 billion (US$1.71 billion) worth of Bank of Communications Co.'s (3328.HK) new shares as part of the Chinese bank's placement to replenish capital.
The U.K.-based banking giant said in a statement it has agreed to subscribe to 2.36 billion of BoCom's Hong Kong-listed shares at HK$5.63 each, maintaining HSBC's stake in the state-run lender at no less than its current 19.03%. HSBC added it will pay for the subscription from internal resources.
"Maintaining our stake in BoCom reinforces our position as the leading foreign bank in mainland China and is consistent with our strategy to deploy capital in faster-growing markets," HSBC Chief Executive Stuart Gulliver said in the statement.
HSBC first invested in China's fifth largest bank by assets in August 2004.
-By Fiona Law, Dow Jones Newswires; 852-2802-7002; fiona.law@dowjones.com
1 Year Bank of Communications (PK) Chart |
1 Month Bank of Communications (PK) Chart |
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