trending Market Intelligence /marketintelligence/en/news-insights/trending/RE8gclr7VlyBAzWdRFtCxg2 content
Log in to other products

Login to Market Intelligence Platform


Looking for more?

Contact Us
In This List

Bank of Zhengzhou to issue up to 8B yuan of preference shares

Banking Essentials Newsletter - November Edition

University Essentials | COVID-19 Economic Outlook in Banking: Rates and Long-Term Expectations: Q&A with the Experts

Estimating Credit Losses Under COVID-19 and the Post-Crisis Recovery

StreetTalk – Episode 70: Banks' Liquidity Conundrum Could Fuel M&A Activity

Bank of Zhengzhou to issue up to 8B yuan of preference shares

Bank of Zhengzhou Co. Ltd. will issue offshore preference shares of not more than 8 billion Chinese yuan in aggregate to Southwest Securities International Securities Ltd.

Southwest Securities agreed to subscribe to a principal term of not more than 80 million of these shares at a par value of 100 yuan each, it said in an Oct. 10 release.

The company added that the subscription offers a rate of return that is "generally more favorable and higher than the interest rate of fixed deposits offered by well-recognized financial institutions in Hong Kong." The dividend rate of the preference shares is expected to initially range at between 5.30% and 5.60%.

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