ICBC A+h Allotment plan is not more than 45 billion yuan

NetEase Financial July 28 News ICBC Wednesday Evening in Shanghai, said the announcement, the board of Directors has considered the adoption of the company's a-share and H-Shares rights proposal, to be in accordance with the allocation of no more than 0.6 shares per 10 shares to all shareholders, A shares and H shares share the same proportion of the total amount of funds proposed not more than 45 billion yuan. The announcement indicated that the shares of this and H shares are determined on the basis of the total number of shares and the H shares of the H-Share registration day after the close of the stock registration day. If the bank's total share capital of July 28, 2010 is based on the basis of 334,018,850,026 shares, the total number of shares can not exceed 20,041,131,000 shares, of which: A shares can be equipped with shares of less than 15,057,740,883 shares, H shares can be combined with the number of shares not exceeding 4 , 983,390,117 shares.　　The shares of a share rights to sell the way, the H shares to use the underwriting method, the final allotment ratio to the General Assembly to authorize the Board of Trustees to determine the market situation. In addition, the announcement shows that the total amount of the rights raised is not more than 45 billion yuan, the final fund-raising scale to the General Assembly to authorize the Board of directors in accordance with the actual issue of the allotment price and the amount of allotment determined.　　After deducting the relevant issue fees, the rights raise funds will be used to supplement the bank's capital.　　With the initial determination of the scale of ICBC's rights allotment, the refinancing scale of the three major lines will reach 180 billion yuan, the market personage thinks, because the big shareholder actively participates in the placing, so the influence to the capital face of the market is not big.　　ICBC said that in order to protect the company's business continued stable and healthy development, and further enhance the bank's comprehensive competitive strength, risk resistance and sustainable profitability, it is proposed to take to the original shareholder placing a-shares and H shares and listing the way to further supplement the bank's capital. Previous media reports said Huijin planned to participate in the full allotment. On the one hand, the bank's refinancing plan can be guaranteed to meet the requirements of the bank's supplementary capital. On the other hand, can guarantee the state-owned assets to ICBC's absolute holding, will not be diluted its holding proportion. As of the end of the quarter, central Huijin and the Treasury total held 70.7% of ICBC's stake, of which Huijin held 35.4%.