Lender to sell equity equivalent to 20% of its outstanding stock

Bank of China (BOC) is planning to raise additional capital by selling new shares in Hong Kong after its 40 billion yuan convertible bond sale on the mainland, analysts said yesterday.

The nation's third largest lender by market value is likely to sell only its H-shares traded in Hong Kong, and is yet to decide on the timing and size of issue, BOC President Li Lihui said on a conference call yesterday.