On November 21, Bank Of Changsha Co.,Ltd. announced plans to redeem all 60 million preferred shares at a face value of RMB 100 per share, totaling RMB 6 billion.
The bank initially issued these preferred shares (referred to as "the current preferred shares") on December 20, 2019, through a private placement. The issuance, with the stock abbreviation "Changyin You 1" and code 360038, amounted to RMB 6 billion. Following approval by the board and clearance from the Hunan Local Bureau of the National Financial Regulatory Administration, the bank will proceed with the full redemption on December 25, 2025.
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