Merchants Bank wins nod for rights issue

China Merchants Bank, the mainland's sixth-biggest lender by assets, said yesterday it had obtained Beijing's approval to raise about 20 billion yuan (HK$25.2 billion) through a long-awaited rights issue, becoming the first mainland bank to get the approval to replenish capital following a credit crunch late last month.

via Business feed http://www.scmp.com/business/money/markets-investing/article/1289458/merchants-bank-wins-nod-rights-issue