crashbandicoottrilogyps3| Guangzhou Rural Commercial Bank (01551): US$1.43 billion overseas preferred stock redemption approved

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Guangzhou Agricultural and Commercial Bank (01551) plans to redeem 14 on June 20, 2024Crashbandicoottrilogyps3Us $.30 billion overseas preferred shares in 2019Crashbandicoottrilogyps3The total redemption price will be 15Crashbandicoottrilogyps3.2.4 billion US dollars.

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[Guangzhou Agricultural and Commercial Bank announced the redemption of 1.43 billion US dollars of overseas preferred shares] recentlyCrashbandicoottrilogyps3Guangzhou Agricultural and Commercial Bank of China (01551) announced that it plans to fully redeem all overseas preferred shares issued in 2019, with a total amount of US $1.43 billion, with the approval of the Guangdong Regulatory Administration of the State Administration of Financial Supervision and Administration. The move marks the bank's further optimization of the financial market and a reasonable adjustment of its capital structure. According to the information disclosed in the announcement, the redemption price will be based on the initial issue price of overseas preferred shares, plus unpaid dividends during the period from the previous interest payment date to the redemption plan date. To date, the priority amount for liquidation is $1.43 billion, and the total redemption price is expected to reach $1.524 billion. In addition, Guangzhou Agricultural and Commercial Bank also revealed that after completing the redemption and cancellation procedures of overseas preferred shares, the bank will apply to the Stock Exchange of Hong Kong to cancel the listing of overseas preferred shares. The decision is expected to have a positive impact on the company's financial position, market image and investor confidence. Investors pay close attention to the redemption, believing that it is an important measure for Guangzhou Agricultural and Commercial Bank to optimize its capital structure and enhance shareholder value. Market analysts expect the move to help improve the bank's profitability and asset quality, thereby enhancing its competitiveness in financial markets.