According to news, Industrial and Commercial Bank of China, the world’s most profitable lender, has announced that the Ministry of Finance and the Central Huijin Investment Ltd, the local investment division of the country’s sovereign wealth fund, China Investment Corp, will completely take part in ICBC’s rights issue plans.

In July this year, ICBC announced that it had secured sanction from the board of directors to lift up around RMB 45 billion through a rights issue in Hong Kong and Shanghai as a move to fill up its capital.

In a note released by the bank during the filing with the Shanghai Stock Exchange, it will issue up to 0.6 new shares for every 10 subsisting A shares and H shares.

Central Huijin, which possesses a 35.42 percent stake in ICBC, will invest around RMB 15.94 billion in the rights issue, and the MOF, which is the second-biggest shareholder of ICBC, will invest around RMB 15.90 billion for subscribing for the new shares.

In the first six months of this year, the bank's capital adequacy ratio (CAR) stood at 11.34 percent and its core capital adequacy ratio was 9.41 percent.

During the period of January to June of this year, ICBC registered revenue of around RMB 84.6 billion.