CICC's placement of new H shares raised about HK $2.53 billion

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      China International Finance Co., Ltd. (3908. HK), a large investment bank in China, announced on Thursday that it would raise about HK $2.53 billion through the placement of new H shares, and the proceeds would be used to supplement capital, support the company's existing business and new business development at home and abroad.
According to CICC's statement, a total of 176 million new H shares were allotted at a price of HK $14.4 per share, respectively equivalent to about 9.245% and 4.029% of the company's issued H shares and total issued shares after expansion.
The allotment price was about 7.3% lower than the company's closing price on Wednesday; CICC's early share price fell nearly 5.8% at most, falling 5.66% to HK $14.66 at 09:49 Hong Kong time; and the Hang Seng Index. HSI rose 0.7%.


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