04:39 PM EST - CIBC : says it plans to raise $2.75 billion by selling stock to rebuild its balance sheet, with a group of investors the includes Hong Kong billionaire Li Ka-Shing committing to buy more than half of the shares. The other investors who have made commitments to buy a total of $1.5 billion of the shares were the Ontario-based OMERS pension plan, Manulife Financial Corp. and the Caisse de Depot et Placement du Quebec. Another $1.25 billion of stock will be sold to a syndicate of underwriters led by the bank's CIBC World Markets. CIBC
shares T.CM are trading up 76 cents at $72.07.
