3 1 Report

FILE PHOTO: The logo of Industrial and Commercial Bank of China (ICBC) is pictured at the entrance to its branch in Beijing, China April 1, 2019. REUTERS/Florence Lo. HONG KONG (Reuters) - Industrial and Commercial Bank of China 601398.SS 1398.HK (ICBC) is aiming to raise up to 30 billion yuan ($4.4 billion) in additional tier one perpetual offshore preference shares, according to a term sheet seen by Reuters. The bank, the world’s largest by assets, is speaking to investors on Wednesday and has flagged an initial yield of around 3.95%. ICBC had 31.1 trillion yuan in total assets at the end of June. The offshore preference shares will be denominated in US dollars and will be counted as part of the bank’s additional tier one capital levels. Full story

7 days ago, 16 September