ICBC completes redemption of USD offshore preference shares

Industrial and Commercial Bank of China Limited (ICBC) announced the completion of the redemption of its USD offshore preference shares on September 23, 2025. This action, which had no objections raised by the NFRA, resulted in the full redemption of all outstanding USD offshore preference shares at a price equivalent to the liquidation preference plus any declared but unpaid dividends up to the redemption date.

Following the redemption and cancellation, no USD offshore preference shares remain in issue in the offshore market. ICBC has accordingly applied to The Stock Exchange of Hong Kong Limited to withdraw the listing of these preference shares, with the delisting becoming effective after 16:00 Beijing time on September 24, 2025.

This development follows the bank's announcement on August 15, 2025, regarding the redemption plan for these shares. The board of directors of ICBC includes a mix of executive, non-executive, and independent non-executive directors.