Bank of China seeks $165bn in targeted A-share issuance

** Bank of China (SSE:601988) is moving forward with a plan to strengthen its capital base through a targeted A-share issuance, according to a recent filing. The bank intends to raise up to CNY 165 billion (approximately USD 22.8 billion) via the issuance of A-shares to specific targets, with the proceeds earmarked for boosting its core tier-one capital. The listing sponsorship letters for the issuance have been provided by BOCI Securities Co., Ltd. and CITIC Securities Co., Ltd., highlighting the significance of the deal. Bank of China 's board of directors has greenlit the intended offering, as well as its shareholding structure, and made arrangements for earnings distribution, to protect shareholder returns. If approved, this targeted offering will further strengthen Bank of China's position in the financial sector and support its future growth initiatives. The Shanghai Stock Exchange has confirmed acceptance of the A-share issuance application.