|
| Saturday, 12 November 2016, 01:22 HKT/SGT | |
| |
|
|
|
HONG KONG, Nov 12, 2016 - (ACN Newswire) - Huishang Bank Corporation Limited ("Huishang Bank" or "the Bank", HK:3698) is pleased to announce the issuance of Offshore Preference Shares (HK:4608) has been completed on 10 November 2016. The listing of the Offshore Preference Shares on the Hong Kong Stock Exchange is effective on 11 November 2016.
Pursuant to the approvals by the Anhui Bureau of China Banking Regulatory Commission and the China Securities Regulatory Commission in relation to the offshore preference shares proposed to be issued by Huishang Bank Corporation Limited, the Bank has entered into the subscription agreement on 3 November 2016 with the Joint Global Coordinators and the Joint Lead Managers in relation to the issuance of the U.S.$888,000,000 5.50% Non-Cumulative Perpetual Offshore Preference Shares (the "Offshore Preference Shares").
The Offshore Preference Shares will have a par value of RMB100 but will be issued fully paid in U.S. dollars so that the total issuance price of the Offshore Preference Shares will be U.S.$20 each. The Offshore Preference Shares will be issued in registered form and issued and transferable in minimum amounts of U.S.$200,000 (or 10,000 Offshore Preference Shares) and integral multiples of U.S.$1,000 (or 50 Offshore Preference Shares) in excess thereof.
CCB International, Haitong International, UBS, Deutsche Bank, BOC International, HSBC are Joint Global Coordinators, Joint Bookrunners and Joint Lead Managers; ABC International, CEB International, China Merchants Securities (HK), CITIC CLSA Securities, CMB International, Credit Suisse, Essence International, Guoyuan Capital (Hong Kong) Limited, and Shanghai Pudong Development Bank Co., Ltd., Hong Kong Branch are Joint Bookrunners and Joint Lead Managers (in alphabetical order).
The total number of the Offshore Preference Shares to be issued is 44,400,000. Subject to applicable laws and regulations and the approvals by the relevant regulatory authorities such as the CBRC Anhui Bureau and the CSRC, the capital raised from the Offshore Preference Shares issuance, after deduction of the expenses relating to the issuance, expected to be approximately U.S.$883,800,000, will be used to replenish the Bank's Additional Tier 1 Capital, increase the Tier 1 Capital Adequacy Ratio of the Bank and optimise the capital structure.
Topic: Issue of Stocks/Bonds
Sectors: Banking & Insurance
https://www.acnnewswire.com
From the Asia Corporate News Network
Copyright © 2026 ACN Newswire. All rights reserved. A division of Asia Corporate News Network.
|
|
|
