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Bank of Jinzhou completes share placement

Bank of Jinzhou Co. Ltd. completed a placement of HK$8.30 billion worth of new shares.

The Chinese lender sold 1 billion Hong Kong-listed shares, representing 12.85% of its enlarged share capital. The shares were allotted at HK$8.30 apiece to no less than six investors.

The lender expects at least HK$8.22 billion in aggregate net proceeds from the share placement, which will go toward replenishing its core Tier 1 capital.