BOC's fundraising plan approved

09:43, March 22, 2010      

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Shareholders of Bank of China (BOC) have approved a fundraising plan, making the bank the first among major Chinese lenders to shore up its capital base. BOC will issue up to 20 percent of its existing shares and 40 billion yuan ($5.86 billion) worth of six-year convertible bonds in Shanghai, the bank said in a filing to the Hong Kong stock exchange.

Source: Global Times
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