The international capital of China one of the country’s largest investment banks, said it plans to raise billions of dollars to boost its business in the face of increasing competition from foreign rivals. outside.
The Beijing-based bank wants to raise up to $3.9 billion from a rights issue, a new share offering aimed at existing shareholders. The domestic investment arm of China’s sovereign wealth fund, which owns about 40% of CICC’s shares, intends to register its share of the offering.
