CCB completes A-share issuance, adjusts preferred share conversion price

China Construction Bank Corporation (SSE:601939) has completed its previously announced issuance of 11,589,403,973 A-shares to a specific target, the Ministry of Finance of the People's Republic of China. The issuance, approved by regulatory bodies including the China Securities Regulatory Commission (CSRC), resulted in gross proceeds of CNY 105 billion before related expenses. The net proceeds, after deducting approximately CNY 31 million in issuance costs, totaled CNY 104.97 billion, allocated to increase share capital and capital surplus. Consequently, CCB's total share capital increased to 261,600,381,459 shares. Concurrent with the share issuance, CCB adjusted the mandatory conversion price for its outstanding "CCB Preferred 1" (SSE:360030) preference shares from CNY 5.20 per share to CNY 5.19 per share, effective immediately. The adjustment is in accordance with the terms outlined in the preference share offering documents due to the A-share issuance.