Ping An Bank Co (SHE:000001) has initiated the full redemption of its preferred shares issued in 2016, spending a total of about 20.9 billion yuan, according to a Shenzhen Stock Exchange filing on Monday.
The redemption covers 200 million preferred shares originally issued in a private placement in March 2016.
The shares will be redeemed at 104.37 yuan per share, which includes the 100 yuan par value, plus a dividend of 4.37 yuan per share.
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