BoCom aims to boost capital ratios with $9bn share sale
Bank of Communications (BoCom) is set for a giant private placement after it got approval on Thursday from China and Hong Kong regulators for a dual A and H share capital increase that would raise Rmb56.6bn ($8.9bn). The bank is raising the capital to improve its core capital adequacy ratios ahead of 2013’s deadline for China’s biggest banks.
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