Ningbo Bank to redeem 10 bn yuan in preference shares

Ningbo Bank Co., Ltd. has announced its intention to redeem all 100 million shares of its second-tranche preference shares on November 7, 2025. This follows board approval on August 27, 2025, and subsequent non-objection from the Ningbo Financial Regulatory Bureau. The preference shares, issued in November 2018, represent a total value of 10 bn yuan.

The redemption price for these preference shares will include their par value of 100 yuan per share plus any declared but unpaid dividends for the period from November 7, 2024, to November 6, 2025. This redemption aligns with authorization granted by the company's 2017 fourth interim shareholders' meeting.

The bank will proceed with all necessary regulatory procedures and timely information disclosure, ensuring adherence to relevant laws and the terms of the preference share issuance documents.