Bank of China to issue $7.7 billion HK shares

Calculated as the biggest fund-raising plan in Hong Kong so far in 2010, the offering represents 20 percent of the bank's H-share capital.

"We want to do it as soon as possible but we will also have to find a good timing to make it happen," Bank of China chairman Xiao Gang said.

He added, "The board has approved the plan and now we need to seek approvals from our shareholders as well as the regulators in both Hong Kong and Beijing for our new share issuances."

View the full report in Reuters.