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Sovereign Wealth Funds Briefing - Categorized | Investment, Market

MOF, Central Huijin to invest in ICBC’s rights issue

Posted on 22 September 2010

From China Knowledge: Industrial and Commercial Bank of China, the world’s most profitable bank, yesterday announced that the Ministry of Finance and the Central Huijin Investment Ltd, the domestic investment arm of the nation’s sovereign wealth fund, China Investment Corp, will fully participate in ICBC’s rights issue plans, sources reported.
In Jul. 28, ICBC said that it had secured approval from the board of directors to raise as much as RMB 45 billion via a rights issue in Hong Kong and Shanghai to replenish its capital……………………………………….Full Article: Source


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