Bank of China gears up to price offshore preferreds

By Marisa Wong

Madison, Wis., Oct. 15 – Bank of China Ltd. said it will finalize pricing for its proposed offshore preference shares late Wednesday evening, subject to market conditions.

The Beijing-based bank announced in August that it planned to issue up to 320 million preference shares in 2014, raising up to RMB 32 billion, as well as up to 400 million offshore preference shares, raising up to $6.5 billion or equivalent in foreign currencies.

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