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Industrial and Commercial Bank of China ( (HK:1398) ) just unveiled an announcement.
The Industrial and Commercial Bank of China (ICBC) announced its plan to redeem USD 2.9 billion worth of offshore preference shares issued in September 2020. This redemption, approved by the bank’s board and without objections from the NFRA, is set for September 23, 2025, and will result in the withdrawal of these shares from the Hong Kong Stock Exchange. The move reflects ICBC’s strategic financial management and may impact stakeholders by altering the bank’s capital structure.
The most recent analyst rating on (HK:1398) stock is a Hold with a HK$4.80 price target. To see the full list of analyst forecasts on Industrial and Commercial Bank of China stock, see the HK:1398 Stock Forecast page.
More about Industrial and Commercial Bank of China
Industrial and Commercial Bank of China Limited (ICBC) is a major financial institution in the People’s Republic of China, operating as a joint stock company with limited liability. The bank is known for its comprehensive range of financial services, including corporate and personal banking, investment banking, and asset management, with a significant focus on both domestic and international markets.
Average Trading Volume: 243,107,446
Technical Sentiment Signal: Buy
Current Market Cap: HK$2797.7B
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