Changsha Bank to redeem RMB 60 bn in preference shares

Changsha Bank Co., Ltd. has issued a second indicative announcement regarding the full redemption of its 60 million preference shares, issued on December 20, 2019, at a total value of RMB 60 billion. The preference shares will be fully redeemed on December 25, 2025.

The redemption price for each preference share will include its face value of RMB 100, plus any accrued and undeclared dividends up to the redemption date. Payment for the face amount and dividends accumulated from December 25, 2024, to December 24, 2025, will be made to shareholders on December 25, 2025.

The bank's board of directors approved the exercise of the preference share redemption right on March 28, 2025, following authorization from its 2019 extraordinary general meeting. The national financial supervision and management general bureau's Hunan regulatory bureau has provided its consent for this redemption.