China CITIC Bank Corporation Limited To Raise Up To $3.8 Billion Via Rights Issue-Reuters

Date:2011-08-22wangxin  Text Size:

Reuters reported that China CITIC Bank Corporation Limited (601998.SH)said it planned to raise up to 26 billion yuan ($3.8 billion) through a rights issue to replenish its capital. CITIC Bank will sell as many as 2.2 shares for every 10 existing shares in Hong Kong and Shanghai, up to a total of 8.6 billion shares, the Company said in a statement to the Hong Kong Stock Exchange. That fundraising will cover its capital needs for the next three years.

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