Agricultural Bank of China (HKG:1288, SHA:601288), or AgBank, is seeking to raise up to 160 billion yuan by issuing shares to China's Ministry of Finance and China National Tobacco Corp units.
The lender will use the proceeds to replenish its common equity Tier 1 capital, according to a Sunday filing with the Hong Kong Exchange.
Under the plan, the finance ministry will subscribe for 130 billion yuan in A-shares, and CNTC-related entities will subscribe for 30 billion yuan in A-shares.
The proposal is subject to shareholders' approval at an extraordinary general meeting on Sept. 29.
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