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Updated Friday, November 20, 2009 11:04 am TWN, Bloomberg

China Minsheng raised US$3.9 bil. in share sale

HONG KONG -- China Minsheng Banking Corp., the nation's first privately owned lender, raised HK$30.1 billion (US$3.89 billion) in Hong Kong's biggest public share sale since April 2007, three people familiar with the matter said. Minsheng sold 3.32 billion new shares, or a 15 percent stake, at HK$9.08 apiece, just above the mid-point of a HK$8.50 to HK$9.50 range, the people said, declining to be identified before an official announcement. The final price values the bank at about 1.77 times its estimated 2010 book value, two of the people said.

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