CMB to raise funds via bond, share sales

China Merchants Bank (CMB), the country's sixth-largest bank, is set to raise funds through bond and share sales this year to help cover the rapidly depreciating value of its holdings in recently acquired Wing Lung Bank of Hong Kong, a top bank executive said.

The bank will not rule out the possibility of raising funds by selling new shares this year in an effort to improve its capital adequacy ratio, which has been eroded due to the investment in Wing Lung Bank, CMB chairman Qin Xiao said earlier in Hong Kong.

The bank completed its acquisition of Wing Lung Bank in October last year.