China Galaxy Securities issues ¥50 bn in oversubscribed perpetual subordinated bonds

China Galaxy Securities Co., Ltd. announced the successful conclusion of its 2025 public issuance of perpetual subordinated bonds (Tranche 1) to professional investors on September 18, 2025. The first tranche of the approved registration, set at a maximum of ¥50 billion, saw the actual issuance volume reach ¥50 billion, with a par value of ¥100 per bond.

The bonds were issued via a book-building process to professional investors, with an initial coupon rate for the first five-year interest period set at 2.40%. The offering was oversubscribed, achieving a subscription multiple of 2.012 times. No directors, supervisors, senior management, or shareholders with over 5% stake, nor other related parties, participated in the subscription.

Affiliated parties of the underwriting institutions did participate. This included CITIC Securities Co., Ltd. and CITIC Trust Co., Ltd., affiliates of lead underwriter China Securities Co., Ltd., subscribing for ¥0.5 billion and ¥0.2 billion, respectively. China International Capital Corporation Limited's affiliate, China CICC Wealth Securities Co., Ltd., subscribed for ¥1 billion. Additionally, affiliates of Shenwan Hongyuan Securities Co., Ltd. and Everbright Securities Co., Ltd. also participated.