Industrial Bank to redeem all three tranches of preferred shares

Industrial Bank (SSE:601166) announced its intention to redeem all three tranches of its outstanding preferred shares on July 1, 2025. This decision, approved by the Board of Directors on March 27, 2025, follows a review by the National Administration of Financial Regulation, which raised no objections. The total redemption will encompass 130 million shares of "Industrial Bank Preferred Stock 1," 130 million shares of "Industrial Bank Preferred Stock 2," and 300 million shares of "Industrial Bank Preferred Stock 3". The redemption price will be the par value of the preferred shares plus accrued dividends for the current fiscal year up to the redemption date. Shareholders will receive CNY 100 per share plus dividends accrued from January 1, 2025, to June 30, 2025. The redemption aligns with the terms outlined in the original preferred share issuance documents.