Movement Alert｜CITIC BANK falls 3.05% in Regular Trading, preference share suspension and redemption remain in focus amid weaker bank stocks

Market Focus10-23

On October 23, CITIC BANK fell 3.05% in Regular Trading, trading at HK$7.93, with turnover of HK$25.98 million.

The latest market-facing development is that the bank's domestic preference shares, totaling 350 million shares with a par value of 100 yuan each, entered suspension from October 23 and are scheduled to be fully redeemed and delisted on October 26 at 100 yuan per share plus accrued dividends. The related annual dividend was set at 4.08 yuan per share, implying a total cash dividend of 1.428 billion yuan for the current period.

The move also came as diversified bank stocks traded weaker in Hong Kong, with peers including CCB, BANK OF CHINA, HSBC HOLDINGS, ICBC and BANKCOMM all declining, indicating a broader sector drag alongside company-specific capital instrument adjustments. CITIC BANK is due to report its next quarterly results on October 29.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)

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