Quick Links

Mobile Security Industry News

[March 16, 2012]

Bank of Communications to raise $201.25 million through private placement of H shares

Mar 16, 2012 (Datamonitor Financial Deals Tracker via COMTEX) -- Bank of Communications Co., Ltd., a Chinese banking services company, has entered into an agreement to raise HKD1,552.14 million ($201.25 million) through the issue of 275,690,557 new H shares at a price of HKD5.63 ($0.73) per share in a private placement transaction through an underwritten basis, following the approval from the Board.

In addition, Bank of Communications will issue 5,559,619,881 new H Shares to subscribers in total, including MOF, The Hongkong and Shanghai Banking Corporation Limited (HSBC) and SSF, among others, at a subscription price of HKD5.63 ($0.73) per H Share. The other subscribers for new H Shares include Best Investment Corporation (a wholly-owned subsidiary of CIC International Co., Ltd.), China Life Insurance (Overseas) Company Limited, China Re Asset Management Company Limited and New China Life Insurance Company Ltd.

Bank of Communications will also issue 6,541,810,669 new A shares for subscription to the subscribers, including The Ministry of Finance (MOF), National Council for Social Security Fund (SSF), Shanghai Haiyan Investment Management Company Limited, Yunnan Hongta Group Company Limited, Ping An Asset Management Co., Ltd., China First Automobile Works Group Corporation and China National Tobacco Corp. at a subscription price of CNY4.55 ($0.72) per A share.

The subscription prices of CNY4.55 ($0.72) per new A share and HKD5.63 ($0.73) per subscribed H share and placing share represent 6.57% discount and 9.05% discount to the closing prices of the A shares and the H shares as at March 14 2012, respectively.

Bank of Communications will raise HKD69,329.36 million ($8,932.46 million) through the placement if issue of new A shares and H shares.

CITIC Securities Corporate Finance (HK) Limited is acting as placement agent for the offering. China Everbright Capital Limited is acting as financial advisor to the board of Bank of Communications.

Deal Value (US$ Million) 201.25 Deal Type Private Placement Sub-Category None Deal Status Announced: 2012-03-15 Deal Participants Target (Company) Bank of Communications Co., Ltd.

Acquirer (Company) Undisclosed Investors* Deal Rationale Bank of Communications will use the net proceeds to replenish the core capital of the Bank.

Offer Price ($ per share) 0.73 No. Shares Issued 275690557

[ Back To Mobile Security Homepage's Homepage ]

Request a Demo

Weekly Demonstration: SAP Mobile Secure
Solution including SAP Afaria Cloud

Free 30-day Trial

Best MDM in the cloud. Best MDM
Analytics. Best MDM price.

Featured Whitepapers

What Is Your Mobile Content Policy? A Checklist for Content Risk Mitigation
We are living in a world that only 20 years ago was the realm of science fiction. Devices once just barely imaginable have become common consumer items, carried casually in pockets and purses, with constantly growing capabilities.

SAP Enterprise Mobility: Bringing a Cohesive Approach to a Complex Market
Mobility and consumerization are creating complexity in the enterprise, but embracing the change can lead to more productive mobile workers as well as better communications with employees, partners, customers, and consumers. The trends in the enterprise mobility landscape drive a need for technology solutions to emerge.

View All

Featured Datasheets

Securing Enterprise Mobility for Greater Competitive Advantage
We are living in a world that only 20 years ago was the realm of science fiction. Devices once just barely imaginable have become common consumer items, carried casually in pockets and purses, with constantly growing capabilities.

Secure Mobile Content Management for the Enterprise
Every day employees move business files onto their mobile devices so they can work at home, on the road, or at client sites. The mobile workforce is a reality, as 80% of employees say they need to access work documents from outside the office.1 Instead of insecure, consumer-based tools, enterprises need a safe, reliable platform for managing content on mobile devices.

View All

Featured Webinar

Mobile Drives Field Service Productivity at Satellites Unlimited
Field service has never been more competitive or faster changing than it is today. Going mobile is a must to stay ahead of the competition, provide improved services, and keep up with ever-increasing customer expectations.

View All

Featured Webcast

End to End Mobility Requirements: IDC and SAP explore the 3rd Platform
A new IDC study states that we're in the midst of a shift that takes place once every 20 - 25 years - introducing a new technology platform that will inspire growth and innovation for enterprises of all sizes. IDC calls it the 3rd Platform - built on mobile devices and apps, cloud services, mobile broadband networks, "Big Data", analytics, and social technologies.

View All

Featured On-Demand Webinar

Analyst Webcast: Secure Content Management in a Mobile Age
Securing and managing content is taking on new importance as organizations try to cope with the explosion of business-oriented file sharing services while at the same time taking advantage of the proliferation of "smart" mobile devices.

View All