Shanghai Pudong Development Bank (SPDB) announced Wednesday it plans to sell up to an additional 800 million shares to raise US$3.50 billion (RMB25 billion) to bolster its capital, the Shanghai Securities News reported. The board said it would offer existing shareholders a cash dividend of RMB1.6 and three new shares for every 10 shares held. The bank had said February 21 that it was considering a plan to sell additional shares but a lack of concrete details raised speculation that it could sell as many as one billion new shares to raise up ...