Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON

MarketScreener Homepage  >  Equities  >  Hong Kong Stock Exchange  >  Bank of China Limited    3988   CNE1000001Z5

BANK OF CHINA LIMITED

(3988)
  Report
SummaryChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
SummaryMost relevantAll NewsPress ReleasesOfficial PublicationsSector newsMarketScreener Strategies

Bank of China : First Indicative Announcement on the Redemption of Domestic Preference Shares (First Tranche)

share with twitter share with LinkedIn share with facebook
09/23/2020 | 07:15am EDT

Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.

中 國 銀 行 股 份 有 限 公 司

BANK OF CHINA LIMITED

(a joint stock company incorporated in the People's Republic of China with limited liability)

(the "Bank")

(Stock Code: 3988 and 4619 (Preference Shares))

First Indicative Announcement on the Redemption of

Domestic Preference Shares (First Tranche)

As considered and approved by the Board of Directors of the Bank, and reviewed and approved by the China Banking and Insurance Regulatory Commission (the "CBIRC"), the Bank proposes to redeem all first tranche domestic preference shares of the Bank (the "Domestic Preference Shares (First Tranche)" or "Preference Shares") on 23 November 2020. Reminders for relevant matters of the redemption are hereby provided below:

1. Redemption Size

The Bank proposes to redeem all 320 million Domestic Preference Shares (First Tranche) with a nominal value of RMB100 per Preference Share, totaling an aggregate redemption size of RMB32 billion.

2. Redemption Price

The redemption price equals the sum of the nominal value of such Preference Shares and an amount equal to dividends declared but remain undistributed on such Preference Shares for the current dividend period.

3. Redemption Time

The dividend distribution date for the Preference Shares for the year 2020, being 23 November 2020.

1

4. Payment Time and Method

The Bank will pay the holders of the Preference Shares on 23 November 2020 the nominal value of such Preference Shares and the dividends accrued for the holding period from 21 November 2019 to 20 November 2020.

5. Redemption Procedures

The 2013 Annual General Meeting of the Bank has considered and approved the Proposal regarding the Non-publicIssuance of Domestic Preference Shares of the Bank, authorising the Board of Directors of the Bank to decide on redemption of the Preference Shares during the redemption term according to market conditions and other factors, and handling, with full authority, all the matters relating to redemption with approval of the CBIRC. The Board of Directors of the Bank approved the Proposal on Exercising the Redemption Right of the Domestic Preference Shares (First and Second Tranche) on 30 August 2020. The Bank has received a reply letter from the CBIRC recently, pursuant to which, no objections were raised by the CBIRC for the Bank to redeem the Domestic Preference Shares (First and Second Tranche).

The Board of Directors of

Bank of China Limited

Beijing, PRC

23 September 2020

As at the date of this announcement, the directors of the Bank are: Liu Liange, Wang Jiang, Wang Wei, Lin Jingzhen, Zhao Jie*, Xiao Lihong*, Wang Xiaoya*, Zhang Jiangang*, Chen Jianbo*, Wang Changyun#, Angela Chao#, Jiang Guohua#, Martin Cheung Kong Liao#, Chen Chunhua# and Chui Sai Peng Jose#.

*  Non-executive Directors

#Independent Non-executive Directors

2

This is an excerpt of the original content. To continue reading it, access the original document here.

Disclaimer

Bank of China Ltd. published this content on 23 September 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 23 September 2020 10:14:03 UTC


share with twitter share with LinkedIn share with facebook
All news about BANK OF CHINA LIMITED
10/30As China's yuan becomes a Biden election play, PBOC pushes back
RE
10/30China's banks seen facing persistent bad loan pressures after third quarter e..
RE
10/30ICBC Third-Quarter Net Profit Fell
DJ
10/30Agricultural Bank of China's 3Q Net Profit Slid on Higher Impairments
DJ
10/30China's ICBC posts 4.7% third-quarter profit fall
RE
10/30Bank of China's 3Q Net Profit Slipped on Higher Impairments
DJ
10/29Postal Savings Bank 3Q Net Rises 13.5%
DJ
10/29EXCLUSIVE : Chinese banks seen swapping dollars for yuan in forwards to curb gai..
RE
10/29EXCLUSIVE : Major China state banks seen swapping dollars for yuan in forwards m..
RE
10/26Investors line up for Ant Group's record $34.4 bln IPO
RE
More news
Financials
Sales 2020 570 B 85 228 M 85 228 M
Net income 2020 171 B 25 548 M 25 548 M
Net Debt 2020 - - -
P/E ratio 2020 3,66x
Yield 2020 8,50%
Capitalization 848 B 127 B 127 B
Capi. / Sales 2020 1,49x
Capi. / Sales 2021 1,42x
Nbr of Employees 306 232
Free-Float 99,0%
Chart BANK OF CHINA LIMITED
Duration : Period :
Bank of China Limited Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends BANK OF CHINA LIMITED
Short TermMid-TermLong Term
TrendsNeutralBearishBearish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 19
Average target price 3,03 CNY
Last Close Price 2,12 CNY
Spread / Highest target 89,0%
Spread / Average Target 43,5%
Spread / Lowest Target 7,80%
EPS Revisions
Managers
NameTitle
Jiang Wang Vice Chairman & President
Xi Quan Wang Chairman-Supervisory Board
Lian Ge Liu Chairman
Liu Qiuwan Chief Information Officer
Chang Yun Wang Independent Non-Executive Director
Sector and Competitors