How is the subscription price of the rights issue determined?
The determination of the subscription price is based on the following factors: (1) the trading prices of the A Shares and the H Shares on the secondary markets, and a suitable discount to the market trading prices; (2) Shares should be issued at not less than the latest audited consolidated net asset value per Share as stated in the audited financial statements of CMB prepared under PRC GAAP; (3) the consultation with the sponsors/underwriters in relation to the market conditions. The subscription price of A Shares and H Shares will be the same after the adjustment of the exchange rate.
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