Luzhou Bank plans HKD 1bn H-share issue

Luzhou Bank (HKEX:1983) announced plans for a non-public issue of up to 1,000,000,000 new H Shares under a specific mandate, subject to shareholder and regulatory approvals. The issue represents approximately 36.79% of the bank's existing share capital and is intended to replenish its core tier-one capital. The bank will seek amendments to its Articles of Association to reflect changes in its registered capital and equity structure following the issue. Proceeds from the issue will be used to strengthen the bank's capital base and enhance its ability to manage risks and support sustainable development. The issue is subject to certain conditions, including market conditions, shareholder approvals, and regulatory approvals from the Sichuan Bureau of the National Financial Regulatory Administration and other relevant authorities. The final issue price will be at a discount of no more than 20% to the benchmarked price.