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China Merchants Bank Intends To Refinance Tens Of Billions Of &Nbsp;

2011/4/15 9:50:00 46

China Merchants Bank'S Financing Remains To Be Cleared

China Merchants Bank

(600036.SH, 03968.HK, hereinafter referred to as "China Merchants Bank") announced today that it plans to seek approval from shareholders to authorize the issuance of new shares (including warrants and pferable shares).

bond

And so on, and bonds, authorized financing plan to reach tens of billions of yuan.

The above authorization bill will be held in 2010 in May 30th.

Shareholder

The meeting is deliberated.

By the end of 2010, the total share capital of China Merchants Bank was about 21 billion 577 million shares, of which A shares were 17 billion 666 million shares and H-shares were 3 billion 910 million shares, and the number of authorized shares was not 20% higher than that of A shares and H-shares respectively. According to this calculation, the authorized financing capital stock totaled 4 billion 315 million shares, and the capital refinancing scheme could reach tens of billions of yuan.

Yesterday, China Merchants Bank A shares fell 0.07%, to close at 15.31 yuan; H-share fell 0.24%, to close at HK $21.15.

In addition, the balance of bonds issued by China Merchants Bank in the next 3 years (2011 ~2013) will not exceed 10% of the liabilities at the end of last year, of which RMB bonds issued abroad should not exceed 30 billion yuan.

In April 2010, China Merchants Bank's rights issue financing was completed, of which the amount of H shares raised was HK $4 billion 526 million, and the A share raised was 17 billion 764 million yuan.

At that time, China Merchants Bank allocated shares to all shareholders at the ratio of 1.3 shares per 10 shares, the allotment price was 8.85 yuan / share, the share rights of A shares and H-shares were the same, and the total number of shares issued by A and H-share were 2 billion 36 million shares and 450 million shares respectively.

The annual report shows that as of the end of 2010, China Merchants Bank's capital adequacy ratio and core capital adequacy ratio were 11.47% and 8.04% respectively.

In April 1st, Ma Yuhua, President of China Merchants Bank, said in his annual performance conference that as regulators raised regulatory requirements, the bank would consider replenish capital through external financing at an appropriate time, and strive to meet requirements at every stage of development.

Ma Yuhua also said that the bank's ongoing "two pformation" is to strive to supplement capital through endogenous profits. In recent years, the proportion of profit generating supplementary capital has been increasing.