Bank of Zhengzhou will redeem offshore preference shares

Chicago, Sept. 15 – Bank of Zhengzhou Co., Ltd. will exercise its right to redeem all offshore preference shares on Oct. 18, according to a press release.

There are 59.55 million non-cumulative perpetual offshore preference shares outstanding.

The shares are being redeemed at par, or an aggregate liquidation preference of $1,191,000,000. With dividends, the total redemption price will be $1,256,505,000.

The bank is based in Zhengzhou, China.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.