HONG KONG, Aug 22 – Industrial & Commercial Bank of China Ltd (ICBC), plans to sell as much as 100 billion yuan ($14.60 billion) of subordinated bonds by 2011, the world’s biggest bank by market value said late on Thursday.

In a statement to the Hong Kong Stock Exchange, ICBC said it would seek approval from shareholders on Oct. 27 to sell the bonds in stages with an aim to increase the supplementary capital.