SEHK:3988Banks
Bank of China (SEHK:3988): Valuation Check After RMB 60 Billion Tier 2 Capital Raise
Bank of China (SEHK:3988) has just completed a sizeable RMB 60 billion issue of write down tier 2 bonds. The move is aimed squarely at shoring up capital and giving the balance sheet more strategic flexibility.
See our latest analysis for Bank of China.
Even with the share price easing 4.65% over the last week, Bank of China still carries a solid year to date share price return of around 16%. Its 1 year total shareholder return north of 30% suggests momentum is still broadly constructive as...