Sept. 6 — China Re's board approved an issuance of domestic shares to specific
investors to be subscribed in cash by the Ministry of Finance, targeting 3.0 bln
yuan. Net proceeds will be used wholly to increase China Re's core Tier-1
capital. Issue price set at 1.33 yuan/share, a premium to recent H-share market
levels, with about 2.256 bln shares proposed. The subscriber has committed to a
long-term holding; size and final terms are subject to regulatory approval.
