Bank of China

BOC debt proposal aims to lift capital

PUBLISHED : Saturday, 23 January, 2010, 12:00am
UPDATED : Saturday, 23 January, 2010, 12:00am

Bank of China proposes to issue up to 40 billion yuan (HK$45.45 billion) of A-share convertible bonds, paying up to 3 per cent, and to seek a general mandate to allow it to issue 20 per cent more new A shares and H shares. The issues will allow the lender to bolster its capital and will require shareholder and regulatory approval. Convertible bond holders will be able to exchange them for A shares of the company.