Industrial bank completes preferred share redemption and conversion

Industrial Bank (SSE:601166) announced the completion of its previously announced redemption and delisting of all outstanding preferred shares, alongside updates on convertible bond (兴业转债) conversion activity. The bank fully redeemed its three tranches of preferred shares (兴业优1, 兴业优2, and 兴业优3) on July 1, 2025, paying a total of CNY57.171 billion to shareholders of record as of June 30, 2025, including both the par value and dividends accrued from January 1, 2025, to June 30, 2025. The redeemed shares were subsequently cancelled on the same day. Concurrently, Industrial Bank reported that CNY8,644.675 billion of 兴业转债 were converted into A-shares between April 1, 2025, and June 30, 2025, resulting in the issuance of 388,524,850 new shares. Cumulatively, CNY8,647.594 billion of the convertible bonds have now been converted, increasing the bank's A-share capital by 388,645,366 shares, representing 1.87081% of the total shares outstanding prior to the bond conversion. The remaining outstanding amount of convertible bonds stands at CNY41.352 billion, representing 82.70481% of the initial issuance. As a result of these conversions, Industrial Bank’s total share capital has increased to 21,162,836,117 shares.