IN BRIEF (Page 13)

Hua Xia mulls share placement

Hua Xia Bank is raising up to $3.1 billion in a private share placement, as the mid-sized lender joins a growing queue of Chinese banks rushing to replenish capital.

The placement, which is being made at a 12 percent discount to Hua Xia Bank's last traded price before the placement, will let State-owned steel mill Shougang Corp reclaim its position as the bank's biggest shareholder from Deutsche Bank.