Zitong Financial App NewsletterIndustrial and Commercial Bank of China (01398)It was announced that the bank issued 600 million euros of preferred shares abroad on December 10, 2014. The board of directors of the bank held a meeting on August 27, 2021 to consider and pass the bill on the exercise of redemption of offshore euro preferred shares. According to the bill, the bank intends to exercise redemption on all the aforementioned overseas euro preferred shares on December 10, 2021, subject to the approval of Bank of China Ltd. Insurance Regulatory Commission and in accordance with relevant laws and regulations and the articles of Association of China Industrial and Commercial Bank of China Co., Ltd.

Recently, the bank received a reply from the China Banking and Insurance Regulatory Commission, which has no objection to the redemption. The bank will redeem all of the above-mentioned offshore euro preferred shares on December 10, 2021.