March 12, 2018 / 9:06 AM / 5 months ago

BRIEF-Agricultural Bank Of China Announces Proposed Private Placement of A Shares

March 12 (Reuters) - Agricultural Bank Of China Ltd :

* ‍BOARD RESOLVED TO APPROVE BANK’S PRIVATE PLACEMENT OF NO MORE THAN 27.47 BILLION A SHARES​

* ‍PROCEEDS FROM PRIVATE PLACEMENT SHALL NOT EXCEED RMB100 BILLION​

* RESOLVED TO SUBMIT TO THE EGM A PROPOSAL ; BOARD MAY ALLOT, ISSUE UP TO 58.81 BILLION A SHARES AND/OR 6.15 BILLION H SHARES

* PROCEEDS FROM PRIVATE PLACEMENT WILL BE FULLY USED TO REPLENISH CET 1 CAPITAL OF BANK

* TARGET SUBSCRIBERS INCLUDE HUIJIN, MOF, CHINA NATIONAL TOBACCO CORP, SHANGHAI HAIYAN INVESTMENT MANAGEMENT AND NCI Source text for Eikon: Further company coverage:

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