China CITIC Bank ( (HK:0998) ) just unveiled an announcement.
China CITIC Bank has successfully completed the redemption of its CITIC Convertible Bonds, initially issued in 2019, with a total value of RMB40 billion. The redemption process resulted in the conversion of nearly all the bonds into A-share ordinary shares, significantly increasing the bank’s share capital by 13.71%. This strategic move enhances the bank’s equity base and may strengthen its market position by improving its financial flexibility and capital structure.
More about China CITIC Bank
China CITIC Bank Corporation Limited is a financial institution based in the People’s Republic of China. It operates in the banking industry, providing a range of financial services and products, including corporate and personal banking, investment banking, and wealth management. The bank is a significant player in the Chinese financial market, focusing on both domestic and international banking services.
YTD Price Performance: 9.55%
Average Trading Volume: 29,196
Technical Sentiment Consensus Rating: Sell
Current Market Cap: $49.42B
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