Bank of Beijing Announces Plan to Redeem 13 Billion Yuan in Preferred Shares, Delisting Scheduled for July 28

Deep News07-22

On July 22, Bank Of Beijing Co., Ltd. (SH: 601169) issued an announcement regarding its intention to redeem the 130 million preferred shares issued in a private placement back in July 2016, known as "Beyin You 2," with a total value of 13 billion yuan.

The final trading day for these shares is set for July 24, 2026. The record date for the redemption and the suspension of trading will commence on July 27. The cancellation of the redeemed shares, the distribution of redemption payments, and the official delisting from the exchange are all scheduled for July 28.

The redemption price will be calculated based on the shares' par value plus any declared but unpaid dividends for the current period. The bank will handle the distribution of the redemption payments itself. Following this action, the number of outstanding preferred shares will be reduced to zero.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap
Leave a comment