Bank of Lanzhou (SHE:001227) received regulatory approval from the People's Bank of China and the Gansu branch of the National Financial Regulatory Administration to issue up to 5 billion yuan in perpetual capital bonds.
The bank may choose the timing, tranches and size of the issuance within 24 months of approval, according to a Thursday filing with the Shenzhen bourse.
Shares of Bank of Lanzhou were down 1% in recent trade.
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