Feb 27 - Minsheng Bank Wins Approval to Issue H Shares

Source: 21st Century Business Herald, ChinaScope Financial (Data)

+       China Minsheng Banking Co., Ltd. (SSE: 600016; HKEX: 1988) announced on February 24 that that China Securities Regulatory Commission (CSRC) has approved its plan to issue 1.65 billion new H shares, roughly CNY 9 billion in financing.

+       As of the third quarter last year, the 7.89% core capital adequacy ratio of the bank was below the regulatory standards. The completion of the new shares issuance can raise the ratio by 2 percentage points, bringing it up to regulatory standards.

+       A new round of refinancing among Chinese banks will happen in the A share market this year. Bank of Beijing Co., Ltd. (SSE: 601169), China CITIC Bank Co., Ltd. (SSE: 601998; HKEX: 998), Bank of Communications Co., Ltd. (SSE: 601328; HKEX: 3328), and China Everbright Bank Co., Ltd. (SSE: 601818) have all released refinancing plans for this year. The total financing scale in the banking industry is expected to exceed CNY 90 billion.

Minsheng Bank: Core CAR still lower compared to the new CBRC regulation.

Summary of Banks’ Refinancing Activities in 2012

Trading Comparable

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