FINWIRES · TerminalLIVE
FINWIRES

AgBank Plans 160 Billion Yuan A-Share Placement

By

Agricultural Bank of China (HKG:1288, SHA:601288), or AgBank, is seeking to raise up to 160 billion yuan by issuing shares to China's Ministry of Finance and China National Tobacco Corp units.

The lender will use the proceeds to replenish its common equity Tier 1 capital, according to a Sunday filing with the Hong Kong Exchange.

Under the plan, the finance ministry will subscribe for 130 billion yuan in A-shares, and CNTC-related entities will subscribe for 30 billion yuan in A-shares.

The proposal is subject to shareholders' approval at an extraordinary general meeting on Sept. 29.

Related Articles

Asia

Update: Market Chatter: Citigroup Expects China OK for Brokerage Operations in September

(Updates to add a statement from Citi)Citigroup expects regulatory approval from Beijing for its wholly owned brokerage operations in China as soon as within September, Reuters reported Friday, citing two people with knowledge of the matter.The approval could come around the time of Chinese President Xi Jinping's upcoming meeting with U.S. President Donald Trump in Washington, according to the report.Citi declined comment when reached by.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Shanghai Composite^SZSE
Asia

Newton Resources Unit to Procure Public Cloud Services

Newton Resources (HKG:1231) unit Ace Profit Investment entered into a public cloud services agreement with a third-party provider, according to a Friday bourse filing.Under the contract, the company will obtain access to high-performance Graphics Processing Unit (GPU)-enabled public cloud computing capacity for 36 months.This will support the company's development and provision of cloud computing, AI, and related technical services.

HKG:1231
Asia

Capital Industrial Financial Associate Grants 200 Million Yuan Facility Under Cooperation Contract

Capital Industrial Financial Services Group (HKG:0730) associate Beijing West Business Factoring granted Shouyi Medical Health Investment Management a credit facility of up to 200 million yuan.Leveraging the facility, the parties expect a rise in demand for growth in the factoring business, according to a Friday bourse filing.The parties first entered into the strategic cooperation agreement in April, the collateral financing company said.

HKG:0730