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Huijin to subscribe to BOC rights issue

07-07-2010 08:54 BJT Special Report:

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The Bank of China has stated that its shareholder, Central Huijin Investment Company, has committed to subscribe in cash all the offered rights shares.

The shares will be allotted to Central Huijin in proportion to its shareholding in the bank. BOC's rights issue is part of the Bank's efforts to maintain its capital-adequacy ratio of at least 11.5 percent, a required level by regulators.

Huijin will also subscribe to the rights issues of the Construction Bank of China, and the Industrial and Commercial Bank of China in accordance with its shareholding. This investment arm of China's sovereign wealth fund is likely to spend 100 billion yuan to participate in the fundraising of those three state-owned banks.

Editor:Xiong Qu |Source:

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