Bank of Communications (SHA:601328, HKG:3328) raised net proceeds worth 119.9 billion yuan from a share placement deal, according to a Hong Kong filing published late Wednesday.
The lender issued a total of 14.1 billion shares for 8.51 yuan each to three investors.
The Ministry of Finance, China National Tobacco, and Shuangwei Investment subscribed for 13.2 billion shares, 538.2 million shares, and 352.5 million shares, respectively.
The proceeds will be used to replenish the lender's core tier 1 capital, the filing said.
BoCom's shares slipped less than 2% in recent trade.
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