Bank of China has obtained approval from the China Banking Regulatory Commission for a 60 billion yuan ($8.83 billion) share placement in Shanghai and Hong Kong, the bank said in a stock exchange filing on Thursday.
China's fourth-largest bank joined larger rivals including top lender Industrial and Commercial Bank of China to tap investors for billions of dollars of recapitalisation after a 2009 lending binge to support the government's economic stimulus.
The approval was expected after the banking regulator tightened capital requirements on banks to pre-empt a rise in bad loans.
Last month, ICBC said the China Securities Regulatory Commission had approved its plan to issue up to 25 billion yuan ($3.68 billion) in convertible bonds in Shanghai.
ICBC also plans to raise up to 45 billion yuan ($6.6 billion) through a rights issue in Hong Kong and Shanghai.
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