On June 21, Guandong Rural Commercial Bank (01551.HK) announced that, in accordance with the terms and conditions of the overseas preferred shares and the approval of the Guandong Regulatory Bureau of the China Banking and Insurance Regulatory Commission, the bank redeemed all overseas preferred shares on June 20, 2024. The total redemption price was $1,523,744,444.44.

After the redemption and cancellation of overseas preferred shares on the redemption date, the bank no longer has any outstanding overseas preferred shares. Accordingly, the bank has applied to the Hong Kong Stock Exchange for the delisting of the overseas preferred shares. The delisting of the overseas preferred shares became effective on June 21, 2024 at 4:00 p.m.