Industrial Bank to redeem all three series of preferred shares

Industrial Bank (SSE:601166) has announced plans to redeem all three series of its outstanding preferred shares on July 1, 2025. The total redemption value will be CNY 56 billion. This encompasses "Industrial Bank Preferred 1" (CNY 13 billion), "Industrial Bank Preferred 2" (CNY 13 billion), and "Industrial Bank Preferred 3" (CNY 30 billion). Shareholders will receive the face value of their shares, along with accrued dividends from January 1, 2025, to June 30, 2025. The decision was approved by the board and regulatory authorities.