HONG KONG Aug 12 Bank of Communications Co Ltd
(BoCom) , China's fifth largest lender, has
obtained the green light from Chinese securities regulators for
a private placement of around $9 billion, aimed at meeting
tighter capital requirements.
The China Securities Regulatory Commission approved BoCom to
issue no more than 6.54 billion new Shanghai-listed A shares and
5.835 billion new Hong Kong-listed shares, the lender said in a
statement on the Hong Kong stock exchange late on Friday and
seen by Reuters on Sunday.
In March, BoCom said in a separate statement it planned to
place the new A shares at 4.55 yuan per share and the H-shares
at HK$5.63 apiece with existing shareholders, with the amount
raised totalling about 56.57 billion yuan ($8.9 billion).
On Friday, Hong Kong-listed shares of BoCom, originally set
up to fund communications and transport projects and in which
HSBC has a stake, closed 1.13 percent lower
at HK$5.27, while its Shanghai stock rose 0.68 percent to 4.44
yuan.(Reporting by Lee Chyen Yee; Editing by Michael Perry)