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China Daily | Updated: 2013-09-06 07:18
China Merchants Bank raises $4.5 billion
China Merchants Bank Co. raised 27.5 billion yuan ($4.5 billion) in the Shanghai portion of a rights offer, paving the way for it to complete the world's third-largest share sale this year. Investors holding 96.4 percent of the Shanghai-traded shares subscribed to the offer, Merchants Bank said in an exchange filing. The Shenzhen-based lender said last month it planned to raise 34.8 billion yuan by offering 3.07 billion Shanghai-listed shares at 9.29 yuan and 680.4 million traded in Hong Kong for HK$11.68 ($1.51) each. The result of the Hong Kong sale will be announced Sept 26, the bank said last month.
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