News Column

ICBC to Offer Preferred Shares to Finance Money

July 28, 2014

BEIJING, July 28, SinoCast -- Industrial and Commercial Bank of China Limited (ICBC, SEHK: 1398, and SHSE: 601398) declared plans to offer preferred shares not surpassing CNY 80 billion, including at most CNY 35 billion offered abroad and not more than CNY 45 billion offered domestically to replenish capital base. Preferred share offered home and abroad will be mutually independent.

As planned, ICBC will offer at most 450 million preferred shares domestically to not more than 200 investors through private placement with par value reaching CNY 100. Financing will be used for replenishing tier one capital.

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Source: Sinocast Banking & Credit Beat (China)

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