Bank Of Communications Completes H-Share Rights Issue In Hong Kong
July 15 2010 - 8:14AM
Dow Jones News
Bank of Communications Co. (3328.HK), 19%-owned by HSBC Holdings
PLC (HBC), said Thursday it has completed the Hong Kong portion of
a US$4.8 billion rights issue in both Shanghai and Hong Kong.
China's fifth-largest lender by assets said it raised HK$17.78
billion in a rights issue in Hong Kong, representing 99.28% of the
total number of rights shares available in the territory.
The bank offered new Hong Kong dollar-denominated H shares at
HK$5.14 each in the rights issue.
In June, Bank of Communications completed the Shanghai portion
of its rights issue, raising CNY17.1 billion via a rights issue of
yuan-denominated A shares, or nearly 98% of its target of as much
as CNY17.5 billion.
-By Hong Kong Bureau, Dow Jones Newswires; 852-2802-7002;
djnews.hk@dowjones.com
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