--FILE--Pedestrians walk past a branch of China Merchants Bank (CMB) in Guanghzou city, south Chinas Guangdong province, 29 August 2012.
China Merchants Bank Co. plans to raise 34.8 billion yuan (US$5.7 billion) in the worlds second-largest share sale this year starting August 26, bolstering its capital as regulatory requirements tighten. The sale to current shareholders by Chinas sixth-biggest bank by assets compares with an earlier announced maximum of 35 billion yuan. CMB will offer a total of 3.75 billion Shanghai and Hong Kong-traded shares at 9.29 yuan each or the equivalent in Hong Kong dollars, it said in a statement to the Shanghai stock exchange. The move will help China Merchants Bank plug a capital shortfall and speed up growth as competition with smaller rivals such as China Minsheng Banking Corp. and Industrial Bank Co. intensifies.