Minsheng plans to raise 21 bln yuan in private placement in Shanghai

23:50, January 07, 2011      

Email | Print | Subscribe | Comments | Forum 

China Minsheng Banking Corp. said Friday it plans to raise 21.48 billion yuan (3.25 billion U.S. dollars) in a private offering in Shanghai to replenish its capital.

The mid-sized lender will sell 4.7 billion shares for 4.57 yuan each, the company said in a statement filed with the Hong Kong Stock Exchange.The fundraising plan was revealed following speculation that the country' s banking regulator would tighten capital rules this year.

Minsheng's capital adequacy ratio stood at 10.77 percent by the end of June 2010, slightly above the minimum regulatory requirement of 10 percent.An unnamed executive of the bank said the fundraising plan would help boost the lender's core capital adequacy ratio and ensure the healthy development of its businesses.

The bank raised 26.75 billion yuan in its initial public offering in Hong Kong in November 2009.

Source: Xinhua
  • Do you have anything to say?


Special Coverage
  • Focus On China
  • Shanghai World Expo 2010
Major headlines
Editor's Pick
  • Making Chinese knots for upcoming Spring Festival
  • Freezing weather continues across southern China
  • Two tons of ancient coins unearthed in Zhejiang
  • Badminton World Federation Super Series finals held in Taiwan
  • Harbor seals trapped by ice in E. China
  • Horse-riding competition held to welcome spring
Hot Forum Dicussion