Bank of Hangzhou proposes capital hike, debt issuance, governance changes

Bank of Hangzhou is proposing to increase its registered capital from 5,930,200,432 yuan to 7,249,002,548 yuan. This change follows the conversion of 14,994,088,000 yuan in convertible bonds into 1,318,802,116 shares, bringing total outstanding shares to 7,249,002,548. The proposal requires shareholder and regulatory approval.

The bank also intends to issue non-capital replenishing financial bonds, including ordinary, small and micro enterprise loan, green, technological innovation, and "San Nong" bonds. The total issuance is capped at 400 billion yuan, with a maturity of up to 10 years. Issuance methods and locations may include domestic and international markets, either in installments or a single offering, with market-determined interest rates.

Additionally, significant governance changes are on the agenda. These include a proposal to abolish the Board of Supervisors, with its functions absorbed by the Board of Directors' Audit Committee. The bank is also seeking to elect Mr. Zhao Jun as an independent director and has proposed revisions to its articles of association and related bylaws to reflect these changes.