First rights issue from China into US

Author: | Published: 16 Apr 2010
China Merchant Bank launches rights issue from its headquarters

China Merchants Bank (CMB) has become the first Chinese company to do a rights issue to US investors, as China’s banks move to address regulatory concerns about capital adequacy.

To boost its capital position, CMB undertook a $3.2 billion offering comprising A-share and H-share tranches and an international tranche – which included a private placement in the US.