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.
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.