Dow Jones reported that Hua Xia Bank Company Limited said it received approval from the securities regulator to raise up to CNY20.8 billion ($3.2 billion) through a private placement. The approval paves the way for Hua Xia Bank Company Limited (600015) to build up its capital base, following increased lending in the past two years in support of the government's economic stimulus efforts. Hua Xia Bank didn't give the timing of the share issue, but listed companies can usually complete share placements within one month of gaining the securities regulator's approval.

Source:Reuters