Bank of Jiujiang to Issue 3.6 Billion Yuan Worth of Shares

MT Newswires Live

06/19

Bank of Jiujiang (HKG:6190) agreed to issue 3.6 billion yuan worth of domestic shares to investors, according to a Thursday filing with the Hong Kong bourse.

The firm plans to issue 494.2 million domestic shares at 7.29 yuan each to the Jiujiang Finance Bureau and at least six other subscribers in batches.

The Jiujiang Finance Bureau already owns 14.26% of the business.

Funds from the share sale will help replenish the bank's core tier-one capital, it said.

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