Bank of Communications Co ( (HK:3328) ) has provided an update.
Bank of Communications Co., Ltd. has announced a proposed issuance of A shares under a specific mandate, aiming to raise up to RMB120 billion. This capital will be used to replenish the bank’s core tier 1 capital, strengthening its financial position. The issuance will involve the Ministry of Finance, CNTC, and CDIC as subscribers, with the process subject to regulatory approvals. This move is expected to bolster the bank’s capital structure, potentially enhancing its competitive positioning in the financial sector.
More about Bank of Communications Co
Bank of Communications Co., Ltd. is a financial institution incorporated in the People’s Republic of China. It operates in the banking industry, providing a range of financial services including corporate and personal banking, wealth management, and investment services. The bank is focused on expanding its market presence and enhancing its capital base to support growth.
YTD Price Performance: 12.41%
Average Trading Volume: 29,108
Technical Sentiment Signal: Sell
Current Market Cap: $71.01B
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