BOC likely to raise 50b yuan from equities

Bank of China (BOC), the country's largest foreign exchange lender, is likely to raise a maximum 50 billion yuan from the equity market this year to shore up its capital strength, a source close to the bank said.

"A comprehensive fundraising plan may come out together with the bank's 2009 annual results," the source told China Daily on condition of anonymity due to the sensitive nature of the matter.

The nation's third largest lender by market value said in a notice to the Shanghai Stock Exchange that it planned to release its annual results on March 24.