The Beijing-based bank is offering 1.65 billion shares at HK$6.65 to HK$6.86 apiece, according to terms for the deal obtained by Bloomberg News. That represents a discount of as much as 7 percent to the March 23 closing price of HK$7.15.

The China Banking Regulatory Commission said in August that it would require the country’s largest, or so-called systemically important, lenders to have a minimum capital adequacy ratio of 11.5 percent by the end of next year. Smaller banks would be required to have at least 10.5 percent under “normal conditions” by the end of 2016, the CBRC had said.

Minsheng’s capital adequacy ratio stood at 10.86 percent as of Dec. 31, while the core ratio was 7.87 percent. Both are the lowest among the nine publicly-traded Chinese lenders listed in Hong Kong.

Minsheng said in February last year it plans to issue as much as 20 billion yuan of convertible bonds in Shanghai and sell as many as 1.65 billion new H-shares in Hong Kong to replenish the core capital of company.

To contact the reporter on this story: Fox Hu in Hong Kong at fhu7@bloomberg.net

To contact the editors responsible for this story: Chitra Somayaji at csomayaji@bloomberg.net; Philip Lagerkranser at lagerkranser@bloomberg.net

http://www.bloomberg.com/news/2012-03-26/minsheng-bank-seeks-1-5-billion-in-share-sale-term-sheet-shows.html

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