Agricultural Bank of China and ICBC Announce A-Share Issuances of Up to 260 Billion Yuan

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Agricultural Bank of China and Industrial and Commercial Bank of China announced on the 6th that they will issue A-shares to raise up to 160 billion yuan and 100 billion yuan, respectively. The underwriters are the Ministry of Finance of the People's Republic of China, China National Tobacco Corporation, and its related subsidiaries. The proceeds, after deducting related expenses, will be used in full to replenish core Tier 1 capital. In addition, Hua Hong Semiconductor and Weichai Power will be added to the Hang Seng Index constituents, effective on the 7th.

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