Merchants Bank's Rights Issue Plan Approved

Date:2011-09-08lile  Text Size:

September 6 -- China Merchants Bank (600036, 3968.HK) filed its plan to issue rights of both A-shares and H-shares plan has received approval from the State-owned Assets Supervision and Administration Commission (SASAC), reports

The SASAC also permitted China Merchants Group, China Communications Construction Group, China Ocean Shipping (Group), and China Shipping (Group) to fully subscribe shares allotted to them.

As the bank filed in July, it will allot 2.2 shares for every 10 shares held to raise 35 billion yuan. The exercise price is 7.37 yuan per share.

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