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Minsheng wins approval for private placement

(Xinhua)
Updated: 2007-01-19 16:02

皇冠体育app Minsheng Banking Corp Ltd has received approval from securities regulators for a private placement of 3.5 billion A-shares, the Economic Observer reported.

The bank "recently received formal approval from the 皇冠体育app Securities Regulatory Commission (CSRC)," said a source.

皇冠体育app Minsheng said in September that the 皇冠体育app Banking Regulatory Commission (CBRC) approved its private placement but the final details were pending approval by CSRC.

At the end of June, 皇冠体育app Minsheng's capital adequacy ratio (CAR) fell to 7.46 percent, against 8.26 percent at the end of 2005, which made raising capital a priority.