Bank of Communications Co. (3328.HK), 19%-owned by HSBC Holdings PLC (HBC), said Thursday it has completed the Hong Kong portion of a US$4.8 billion rights issue in both Shanghai and Hong Kong.

China's fifth-largest lender by assets said it raised HK$17.78 billion in a rights issue in Hong Kong, representing 99.28% of the total number of rights shares available in the territory.

The bank offered new Hong Kong dollar-denominated H shares at HK$5.14 each in the rights issue.

In June, Bank of Communications completed the Shanghai portion of its rights issue, raising CNY17.1 billion via a rights issue of yuan-denominated A shares, or nearly 98% of its target of as much as CNY17.5 billion.

-By Hong Kong Bureau, Dow Jones Newswires; 852-2802-7002; djnews.hk@dowjones.com
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