China Construction provides $140M cash infusion for NZ unit

Fri, 22 Jul 2016

By Jonathan Underhill July 22 (BusinessDesk) - China Construction Bank, that nation's second-largest lender, has provided $140 million of equity capital to its New Zealand subsidiary to help fund lending growth, the biggest such infusion since the local unit was established with $58.6 million in 2014. China Construction Bank (New Zealand), which counts former prime minister Jenny Shipley and former PwC chair John Shewan among its five directors, issued 100 million to its parent this month, tripling shares on issue to 158.6 million, accord...

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