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BoComm completes RMB 29.77 bln A-share private placement

Aug. 27, 2012 (China Knowledge) - Bank of Communications<601328><3328>, the mainland's fifth-largest lender by market value, said Friday that it raised about RMB 29.77 billion through an A-share private placement.

The bank said in a statement that it issued 6.54 billion A shares at RMB 4.55 apiece to investors, including the Ministry of Finance and the China's National Social Security Fund (NSSF), the country's national pension fund.

The MOF subscribed 2.5 billion A shares.

The NSSF said in a statement on Friday that it invested RMB 15 billion to buy 1.88 billion A shares and 1.41 billion H shares of Bank of Communications in the dual private placement, increasing its stake in the lender to 13.88% from 11.36%.

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