Ping An Bank to Redeem All 200 Million Preferred Shares on March 9

Deep News03-05 19:20

Ping An Bank announced on March 5 that it plans to redeem all 200 million preferred shares issued in a private placement in March 2016. The preferred shares, referred to as "Ping Yin You 01," will be redeemed on March 9, 2026, following approval by the board of directors and receipt of a no-objection notice from the National Financial Regulatory Administration.

The bank stated that it intends to redeem the entire issuance of 200 million preferred shares, each with a face value of RMB 100, representing a total value of RMB 20 billion. The redemption price will be set at the face value of RMB 100 per share plus the current dividend payable of RMB 4.37 per share, resulting in a total redemption price of RMB 104.37 per share (tax inclusive).

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