China Minsheng Banking Corp. will raise up to $4.5 billion through a sale of convertible bonds in Shanghai and new shares in Hong Kong, Reuters reports. The issue will help boost the company’s capital adequacy ratio. The approval from the China Banking Regulatory Commission comes after shareholders approved the issue of up to 1.6 billion new Hong Kong-listed shares and $3.1 billion in A-share convertible bonds in May. If the lender chooses to issue the maximum number of shares, it will raise up to $1.4 billion in Hong Kong.
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