The Industrial and Commercial Bank of China (ICBC, 601398.SH; 01398.HK) announced last Friday that it issued 450 million preferred stocks via a private placement plan to raise 45 million yuan in total.
According to a company filing released on the Shanghai Stock Exchange, the preferred stocks issued by ICBC were subscribed by 26 companies, including six insurance companies, five fund management companies and one securities dealer. China Mobile (CHL.NYSE; 00941.HK) was the top buyer by subscribing 20 billion yuan of the shares, followed by China National Tobacco Corporation and China life Property & Casualty Insurance Company Limited, which subscribed 5 billion yuan and 3.5 billion yuan respectively.
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