Bank of China completes A-share issuance, boosts capital

Bank of China (SSE:601988) announced the successful completion of its A-share issuance to specific targets, issuing 27,824,620,573 shares at a price of CNY 5.93 per share. This move increases Bank of China's share capital, with proceeds earmarked for strengthening the bank's core tier-one capital. The offering, which closed on June 17, 2025, saw the People’s Republic of China's Ministry of Finance take up all allotted shares. While the offering dilutes existing holdings, including those of primary shareholder Central Huijin Investment, it does not change Central Huijin Investment’s controlling stake. The newly issued shares are subject to a five-year lock-up period and are expected to commence trading on the Shanghai Stock Exchange following this period. The deal garnered support from joint sponsors and underwriters.