Bank of Beijing to redeem 4.9 bn yuan in preference shares

Bank of Beijing Co., Ltd. has issued a third announcement regarding the full redemption of its preference shares, originally issued on December 11, 2015, with a total value of 4.9 billion yuan. The redemption is scheduled for December 11, 2025.

The redemption price per preference share will include its face value of 100 yuan plus any declared and unpaid dividends up to the redemption date. The company's board of directors approved the exercise of the redemption right for these preference shares, known as "North Bank Preferred 1."

The bank confirmed it has received approval from the Beijing Regulatory Bureau of the National Financial Regulatory Administration to proceed with the redemption. Funds covering the face value and accumulated dividends from December 11, 2024, to December 10, 2025, will be paid to shareholders on December 11, 2025.