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The Industrial and Commercial Bank of China is likely to plan a rights issue for its A and H shares, after a similar move by the Bank of China.
ICBC, the world´s most valuable bank, hasn't made a final decision. But it's definitely inclined towards a "rights issue" instead of an earlier proposed H-share placement worth 10 billion US dollars.
Earlier in the month, the Bank of China, said it planned to raise up to 8.9 billion dollars to provide enough capital for the next three years. ICBC has short-listed Bank of America, Merrill Lynch, Credit Suisse, HSBC and Nomura to compete for the two remaining bookrunner slots.