ICBC AH share rights issue

As of yesterday, ICBC's a-share and H shares announced the perfect ending, the subscription is very hot and both record record. The latest announcement shows that the H-share allotment is as high as 6.7 times times, the highest record of the share allotment of listed banks in both places.　　Previously completed a share allotment rate reached 99.72%, but also a shares of a share rights since the use of the highest recognition rate. It is estimated that after the allotment, ICBC's capital adequacy ratio and core capital adequacy ratio will rise to more than 12% and more than 10% respectively, enhance the ability to deal with the external environment changes and resist the potential risks, which is of great significance to the sustained and stable development of the bank's business. The bank's official said that the most important feature of the financing is to have a smaller impact on the equity structure and a smaller impact on the market, and will directly supplement the core capital. In the process of allotment, ICBC's controlling shareholder, Treasury and Huijin company also subscribed to the shares in full cash, which provided a favorable guarantee for the successful implementation of the rights issue. Moreover, ICBC's reasonable pricing has also been welcomed by the market.　　The pricing scheme of allotment fully considers the factors such as financing efficiency, supervision requirement, market influence and shareholder's benefit, on the one hand, it can effectively reduce the shareholder's shareholding cost because of the appropriate discount for the stock price compared with the market value. The official said that since the listing, ICBC has been retained as the main source of capital replenishment, while speeding up the transformation of business, and actively strengthen the risk-weighted total management of assets, reduce capital consumption. This year, ICBC's rights issue financing is mainly in order to adapt to the international financial crisis regulators to improve the level of capital adequacy requirements of commercial banks.　　Next, the line will be strict capital management, with good allotment funds. Also news of ICBC today announced that the bank's H shares rights completed, ICBC transfer debt to share prices from December 27, 2010 from 4.16 yuan/share adjusted to 4.15 yuan/share. (Wu Zelin)