trending Market Intelligence /marketintelligence/en/news-insights/trending/_ujLg6kOZR7l0KJ44L_kHA2 content esgSubNav
In This List

Bank of Zhengzhou to raise US$1.19B in preference share issue

Podcast

Street Talk Episode 87

Blog

A New Dawn for European Bank M&A Top 5 Trends

Blog

Insight Weekly: US banks' loan growth; record share buybacks; utility M&A outlook

Blog

Banking Essentials Newsletter 2021: December Edition


Bank of Zhengzhou to raise US$1.19B in preference share issue

Bank of Zhengzhou Co. Ltd. plans to issue US$1.19 billion worth of 5.50% noncumulative perpetual offshore preference shares.

The preference shares will be issued at US$20 apiece, with a par value of 100 Chinese yuan. The issue date is Oct. 18.

Proceeds from the issuance will be used to replenish the bank's Additional Tier 1 capital.

CMB International, China Silk Road International, CITIC CLSA Securities, CCB International, Central China International Capital Ltd. and Huarong Financial are joint global coordinators, joint book runners and joint lead managers for the issuance.

ICBC (Asia), China Industrial Securities International, BOCOM International, Guotai Junan Securities (Hong Kong) Ltd., SPDB International, Haitong International, Southwest Securities International, AMTD, China Merchants Securities (HK), ABC International, CM Securities (Hongkong) Co. Ltd., Orient Securities (Hong Kong), Zhongtai International, CICC HK Securities, BOC International, UBS, Ping An of China Securities (Hong Kong) Co. Ltd. and BNP PARIBAS are acting as joint book runners and joint lead managers for the issue.

The issue is subject to necessary regulatory approvals.

As of Oct. 10, US$1 was equivalent to 6.59 Chinese yuan.