Industrial And Commercial Bank Of China Limited (601398.SH) has announced its proposal for a targeted A-share issuance, marking a significant capital enhancement move. The designated subscribers for this private placement include the Ministry of Finance, China Tobacco, Shanghai Tobacco, Yunnan China Tobacco, Hunan China Tobacco, and Hunan Tobacco.
The Ministry of Finance has committed to subscribing for shares worth 70 billion yuan, while China Tobacco will contribute 10 billion yuan. Additional subscriptions come from Shanghai Tobacco and Yunnan China Tobacco, each investing 5 billion yuan, with Hunan China Tobacco and Hunan Tobacco also committing 5 billion yuan apiece. This brings the total targeted fundraising amount to no more than 100 billion yuan (inclusive of this figure).
After deducting the associated issuance costs, all proceeds from this offering are designated exclusively to bolster the bank's core tier-1 capital, strengthening its financial foundation and resilience.
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ICBC Unveils Plan to Raise Up to 100 Billion Yuan via Private Placement to Key Investors Including Finance Ministry and China Tobacco
Stock News09-06 15:46
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