Minsheng bond sale

China Minsheng Banking Corp Ltd unveiled a bigger and revised fundraising plan late Friday, aiming to raise about $4.5 billion to boost its capital after opposition from small shareholders to an earlier plan. Minsheng, Chinas seventh-largest lender, plans to issue up to 20 billion yuan ($3.04 billion) in convertible bonds and not more than 1.65 billion Hong Kong-listed shares, scrapping its previous plan for a private share placement in Shanghai.

That would be 37 percent more than its previous refinancing plan. - Global Times


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