Bank of Communications Completes Significant A Share Issuance

The latest announcement is out from Bank of Communications Co ( (HK:3328) ).

Bank of Communications Co., Ltd. has successfully completed the issuance of A Shares under a specific mandate, issuing over 14 billion A Shares to entities including the Ministry of Finance, CNTC, and CDIC. This issuance represents approximately 15.96% of the bank’s issued share capital, raising net proceeds of approximately RMB119.94 billion, which will be used to strengthen the bank’s core tier 1 capital. This strategic move is expected to enhance the bank’s financial stability and market position, potentially benefiting stakeholders by increasing the bank’s capital adequacy and supporting future growth initiatives.

The most recent analyst rating on (HK:3328) stock is a Hold with a HK$5.95 price target. To see the full list of analyst forecasts on Bank of Communications Co stock, see the HK:3328 Stock Forecast page.

More about Bank of Communications Co

Bank of Communications Co., Ltd. is a major financial institution incorporated in the People’s Republic of China. It operates within the banking industry, offering a range of financial services and products. The bank focuses on both domestic and international markets, providing services such as corporate and personal banking, wealth management, and investment banking.

Average Trading Volume: 39,121,440

Technical Sentiment Signal: Buy

Current Market Cap: HK$592.8B

For detailed information about 3328 stock, go to TipRanks’ Stock Analysis page.