Postal Savings Bank of China (HKG:1658, SHA:601658) plans to raise approximately 130 billion yuan through a share placement to supplement its core Tier 1 capital, according to a Shanghai bourse disclosure on Saturday.
The lender will issue 20,933,977,454 shares for 6.21 yuan apiece.
China's Ministry of Finance will subscribe for 117.6 billion yuan worth of shares, China Mobile (HKG:0941, SHA:600941) for 7.85 billion yuan, and China State Shipbuilding Corporation, or CSSC, for 4.57 billion yuan worth of shares.
Upon completion of this issuance, the bank's shareholding structure will change but not its controlling shareholder, the disclosure said.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.