Bank of Communications Co Ltd (BoCom), China's sixth-largest lender, won regulatory approval to raise as much as $3.5 billion selling shares in Shanghai, testing a rally that has made the nation's banks the most expensive among Asia's emerging markets. The China Securities Regulatory Commission approved BoCom's plan to sell 3.19 billion yuan-denominated shares, or 6.51 percent of the enlarged capital, the regulator said yesterday.
Bank of Communications Co Ltd (BoCom), China's sixth-largest lender, won regulatory approval to raise as much as $3.5 billion selling shares in Shanghai, testing a rally that has made the nation's banks the most expensive among Asia's emerging markets. The China Securities Regulatory Commission approved BoCom's plan to sell 3.19 billion yuan-denominated shares, or 6.51 percent of the enlarged capital, the regulator said yesterday.