On November 5, Bank Of Ningbo Co.,Ltd. announced its plan to fully redeem 100 million non-publicly issued preferred shares (referred to as "Ningxing You 02") originally issued on November 7, 2018.
The "Ningxing You 02" preferred shares total 100 million units, with a par value of RMB 100 per share and an aggregate size of RMB 10 billion. The bank intends to redeem all outstanding shares at a price of RMB 104.5 per share, which includes the face value (RMB 100 per share) plus accrued but unpaid dividends (RMB 4.5 per share). The redemption is scheduled for November 7, 2025.
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