Bank of Ningbo to release restricted shares

Bank of Ningbo (SZSE:002142) has announced the release of 75,819,056 restricted shares for trading on the Shenzhen Stock Exchange, effective May 16, 2025. These shares account for 1.15% of the company's total share capital and are related to a non-public offering approved by the China Securities Regulatory Commission in 2019 (证监许可[2019]2555号). The shares were initially issued in April 2020. The sole shareholder involved in this release is Oversea-Chinese Banking Corporation Limited, which had agreed to a five-year lock-up period. The company has confirmed that Oversea-Chinese Banking Corporation Limited has fully complied with its commitments and that there are no outstanding issues regarding non-operating fund occupation or irregular guarantees.