China Industrial Bank Raises 18Bln Via Rights Issue

China's Industrial Bank (601166.SH) last night issued a notice of suspension, stating that it will raise up to 18 billion yuan in a rights issue to boost its capital adequacy ratio, starting Tuesday and will resume trading in June 2.

The bank will sell up to 2 shares for every 10 held by shareholders through a rights issue.

Upon the completion of the financing, the bank's capital adequacy ratio would stand above 9 percent, according to analysts.