China Merchants Bank Co (HKG:3968, SHA:600036) said it plans to fully redeem its domestic preference shares issued in 2017, according to a March 13 Hong Kong bourse filing.
Shares of the bank were up more than 1% in Monday morning trade in Hong Kong.
The lender issued 275 million preference shares in December 2017, raising 27.5 billion yuan.
China Merchants proposes to redeem all the shares on April 15 after receiving a no-objection reply from the National Financial Regulatory Administration.
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