Banking

China's BoCom completes $2.6b HK rights issue

(Agencies)
Updated: 2010-07-16 17:19

Bank of Communications, China's fifth-biggest lender, said on Thursday it had completed its rights issue of Hong Kong-listed H-shares, raising HK$17.78 billion.

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The bank said investors bought 99.28 percent of the H-shares on offer in the issue.

BoCom, about one-fifth owned by HSBC Holdings, had set a 1.5-for-10 rights issue for its Shanghai- and Hong Kong-listed shares, aiming to raise a combined $4.84 billion.

The bank completed its yuan-denominated A-share rights issue on June 22, having raised 17.13 billion yuan.