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What is the purpose of CMBs rights issue?

April 26, 2017cmbs ISSUE purpose Rights

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What is the purpose of CMBs rights issue?

1 Answer

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The purpose of the rights issue is to enhance CMBs core capital adequacy ratio to meet the increasingly stringent regulatory requirement in the future. With the enhanced capital adequacy, CMB will be able to improve the structure and quality of its capital. The move will also help to expand CMBs source of working capital and enhance the banks flexibility in capital management. The rights issue will support CMBs business growth and pave the way for further development.