Industrial and Commercial Bank of China Ltd, the world's biggest lender by market value, plans to raise as much as 45 billion yuan ($6.6 billion) in a rights offer, Ming Pao Daily News reported yesterday, citing unidentified people close to the deal.
The lender will offer 0.3 to 0.5 of a share for every 10 held in Shanghai and Hong Kong, the Hong Kong-based Chinese newspaper said. ICBC press officer Xie Taifeng couldn't immediately be reached for comment on his office or mobile phones before office hours.
ICBC fell in Hong Kong pre-market trading after the report. The stock dropped 1.4 percent to HK$5.59 on the city's stock exchange.
