The latest announcement is out from Bank of Communications Co ( (HK:3328) ).
Bank of Communications Co., Ltd. has announced a proposed issuance of A Shares under a specific mandate, along with an application for a whitewash waiver. This move is part of the bank’s strategy to adjust its shareholding structure, with significant shares to be subscribed by the Ministry of Finance, CNTC, and CDIC. The issuance will increase the total issued shares from 74.26 billion to 88.04 billion, with the Ministry of Finance’s shareholding rising from 23.88% to 34.80%. This strategic issuance is expected to strengthen the bank’s capital base and potentially enhance its market positioning.
More about Bank of Communications Co
Bank of Communications Co., Ltd. is a joint stock company incorporated in the People’s Republic of China. It operates in the financial services industry, focusing on banking and related financial services. The company is listed on the Hong Kong Stock Exchange and is involved in various financial operations, including the issuance of shares.
YTD Price Performance: 8.23%
Average Trading Volume: 24,757
Technical Sentiment Signal: Strong Sell
Current Market Cap: $72.78B
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