Bank of Shanghai announces December 2025 redemption of preference shares

Bank of Shanghai Co., Ltd. has issued its first cautionary announcement regarding the upcoming redemption of its 200 million preference shares. These preference shares, identified as "Shangyin You1" with stock code 360029, were initially issued in December 2017. Following approval by the company's board of directors and the National Financial Regulatory Administration Shanghai Regulatory Bureau, the company plans to redeem the entire issuance on December 19, 2025.

The total redemption volume for these preference shares will be RMB 200 bn, based on a par value of RMB 100 per share. The redemption price will comprise the par value along with any declared but unpaid dividends for the period. Payment to preference shareholders will include the par amount and dividends accrued from December 19, 2024, to December 18, 2025.

This redemption is in accordance with a proposal approved at the company's 2016 annual general meeting, which authorized the board of directors to manage all related matters. The company's board of directors formally approved the redemption on July 22, 2025, and has received confirmation from regulatory bodies, indicating no objections to the redemption of these preference shares.