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Bank of Changsha to issue preference shares

Bank of Changsha Co. Ltd. plans to issue 60 million preference shares.

The move has been approved by China's securities regulator and the lender will issue 30 million preference shares within six months from the date of regulatory consent, according to a Dec. 5 release.

The remaining shares will be issued within 24 months from the consent date, after which the approval will lapse.