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Everbright Bank to Issue More Shares
The Everbright Bank of China (EBC) announced Thursday that it will further accumulate funds through stock issuance.
A spokesmen from the EBC said that the bank plans to issue 1.84 billion shares at 1.95 yuan each, which is expected to raise 3.5 billion yuan.
According to the spokesman, the fund will be used to replenish EBC's capital fund, increase its anti-risk capacity and improve overall operational efficiency.
He said that more money will be channeled into network upgrading, e-commerce promotion, fixed-asset investment and new services.
The Everbright Bank, established in 1992, is a joint-stock commercial bank with its major stockholders being state-owned companies. By September this year, the bank had assets worth more than 193 billion yuan.
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