Ken Wang covers China's ECM and the equity-linked market for IFR. Before joining Thomson Reuters IFR in January 2011, he worked as a stock editor for China Finance Online.
Bank of China has received written approval from the China Securities Regulatory Commission to issue offshore AT1 preferred shares of up to Rmb40bn (US$6.5bn). The 400m preferred shares to be offered may be listed on The Stock Exchange of Hong Kong.
China sent shockwaves through the mainland IPO market last week, when it banned dozens of investors from participating in new listings for up to a year.