ICBC May Raise $6.6 Billion, Adding to China Bank Share Sales
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Industrial and Commercial Bank of China Ltd. plans to raise as much as 45 billion yuan ($6.6 billion) to replenish capital, adding to share sales by Agricultural Bank of China Ltd. and China Everbright Bank Co.
The world’s biggest lender by market value will sell as many as 0.6 shares for every 10 held, or up to 15.06 billion shares in Shanghai and 4.98 billion in Hong Kong, according to a statement yesterday.