Guangzhou Bank Completes Offshore Shares Redemption

Guangzhou Rural Commercial Bank Co. Ltd. Class H (HK:1551) has released an update.

Guangzhou Rural Commercial Bank Co., Ltd. has successfully completed the redemption of its US$1.43 billion worth of offshore preference shares on June 20, 2024, with an aggregate redemption price of US$1.52 billion. Following the redemption, the bank has applied for and achieved delisting of these shares from The Stock Exchange of Hong Kong Limited effective after June 21, 2024. This strategic financial move has left the bank with no outstanding offshore preference shares.

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