Bank of China (HKG:3988, SHA:601988) raised net proceeds worth almost 165 billion yuan from a share placement, according to a Hong Kong filing on Thursday.
The lender issued a total of 27,824,620,573 shares for 5.93 yuan apiece to China's Ministry of Finance.
After the transaction, the finance ministry holds 8.64% of the lender.
The proceeds will be used to raise the bank's common equity tier 1 capital, the filing said.
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