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China CITIC Bank ( (HK:0998) ) has issued an announcement.
China CITIC Bank has completed the conversion of its RMB40 billion A-share convertible corporate bonds, issued in March 2019 and maturing in March 2025, into 6.71 billion new shares. This conversion increased the bank’s total share capital and raised its registered capital from RMB48.93 billion to RMB55.65 billion, reflecting successful absorption of bondholders into its equity base.
The National Financial Regulatory Administration has formally approved the change in China CITIC Bank’s registered capital to RMB55.65 billion, enabling the bank to update its legal and regulatory records. Following this approval, the bank has revised its Articles of Association, disclosed the updated version on official websites, and will complete the remaining registration and filing procedures, strengthening its capital structure and regulatory compliance profile.
The most recent analyst rating on (HK:0998) stock is a Buy with a HK$8.30 price target. To see the full list of analyst forecasts on China CITIC Bank stock, see the HK:0998 Stock Forecast page.
More about China CITIC Bank
China CITIC Bank Corporation Limited is a joint stock commercial bank incorporated in the People’s Republic of China and listed in Hong Kong. The bank operates in corporate and retail banking, offering lending, deposit, and capital markets services to a broad customer base, and it raises funding through instruments such as A-share convertible corporate bonds in the domestic market.
Average Trading Volume: 25,823,386
Technical Sentiment Signal: Buy
Current Market Cap: HK$516.1B
See more insights into 0998 stock on TipRanks’ Stock Analysis page.