Bank of Nanjing targets $1.6b sale of pref shares

The Chinese city commercial bank plans a domestic private placement of 100 million preferred shares to help replenish its capital base by raising up to Rmb10 billion.

Bank of Nanjing plans to raise up to Rmb10 billion ($1.6 billion) by selling 100 million preferred shares through a domestic private placement, the Chinese city commercial bank said on Wednesday.

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