ICBC raises billions in latest rights issue

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    The Industrial and Commercial Bank of China (ICBC) will raise approximately HK$52 billion (US$6.75 billion) through its H-share rights issue. ICBC, the…

    The Industrial and Commercial Bank of China (ICBC) will raise approximately HK$52 billion (US$6.75 billion) through its H-share rights issue. ICBC, the largest commercial bank and listed lender in China, will issue 3.73 billion H-shares and 11.29 billion A-shares.

    The joint lead underwriters were BOC International, BNP Paribas, ICBC International and UBS. On the H-share rights issue, the co-lead underwriters were Bank of America Merrill Lynch, Credit Suisse, HSBC and Nomura.

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