HONG KONG (MarketWatch) -- China Construction Bank Corp. (0939.HK), the country's second-largest bank by assets, plans to raise around CNY75 billion (US$11 billion) by listing additional shares in Shanghai and Hong Kong, Bloomberg News reported Tuesday, citing unnamed sources.
The report quoted the sources as saying the bank may raise as much as CNY45 billion via a private placement in Shanghai and CNY30 billion via a rights issue in Hong Kong.
China's top legislative body, the State Council, has approved the fund-raising plan, which is subject to revisions if market conditions change, the report cited the unnamed sources as saying.
