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China's BoCom shares to be suspended on Thursday
March 14, 2012 / 4:17 PM / 6 years ago

China's BoCom shares to be suspended on Thursday

* Suspension is pending details of share placement -BoCom

* Bank planning $7.9 bln private share issue -IFR

HONG KONG, March 14 (Reuters) - Trading in shares of China’s fifth-biggest lender Bank of Communications (BoCom) will be suspended on Thursday pending details of a private share placement, the company said late on Wednesday.

No further details were given in the filing to the Shanghai bourse.

The bank is planning a 50 billion yuan ($7.9 billion) share issue aimed at HSBC, China’s Finance Ministry and the National Social Security Fund, IFR, a Thomson Reuters publication, reported earlier in February.

The three groups are the biggest shareholders in the bank. BoCom has the lowest capital adequacy ratio among China’s top five lenders, making it the most likely candidate to issue new stock. (Reporting by Kelvin Soh; Editing by David Holmes)

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