China Merchants Bank is planning to raise as much as $3 billion in a share sale, Reuters reports, citing Oriental Daily News. The Chinese lender will offer 20% of its share capital in the issuance of H shares
China Merchant intends to use the proceeds from the sale to meet its capital requirements. Other lenders in the country, including Commercial Bank of China, China Construction Bank and Bank of China, are also raising funds by issuing shares to boost their capital.
