Bank of China redeems all offshore preference shares

Bank of China (HKEX: 3988) announced the full redemption of its outstanding USD 2.82 billion U.S. dollar-settled 3.60% Non-Cumulative Perpetual Offshore Preference Shares on March 4, 2025. A total of 197,865,300 shares were redeemed at a price of USD 14.252 each, based on the RMB100 par value using a fixed exchange rate of USD 1 to RMB7.0168. This redemption represents 100% of the previously issued offshore preference shares. After the redemption, the bank's closing balance of offshore preference shares is zero, according to the filing.