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MarketScreener Homepage  >  Equities  >  Hong Kong Stock Exchange  >  China CITIC Bank Corporation Limited    998   CNE1000001Q4

CHINA CITIC BANK CORPORATION LIMITED

(998)
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End-of-day quote. End-of-day quote Hong Kong Stock Exchange - 11/30
3.35 HKD   -2.90%
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China CITIC Bank : ANNOUNCEMENT ON COMPLETION OF ISSUANCE OF TIER-TWO CAPITAL BONDS OF 2020

08/14/2020 | 06:48am EST

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.

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

(Stock Code: 998)

ANNOUNCEMENT ON COMPLETION OF ISSUANCE OF

TIER-TWO CAPITAL BONDS OF 2020

The board of directors of Bank of China CITIC Bank Corporation Limited (the "Bank" or the "Issuer") hereby announces that, according to the Approval of the Issuance of Tier-twoCapital Bonds by China CITIC Bank from the China Banking and Insurance Regulatory Commission (CBIRC Reply [2020] No. 278) and the Affirmative Decision of Administrative License (PBOC Decision [2020] No.

  1. from the People's Bank of China, the Bank was approved to issue tier-two capital bonds in an amount up to RMB40 billion (the "Bonds") in the national interbank bond market. The issuance of the Bonds has been completed on 14 August 2020 in the national inter-bank bond market.

The total size of the Bonds issuance is RMB40 billion, and the term of the Bonds is 10 years. The Issuer shall have a conditional redemption right from the end of the fifth year onwards. The coupon rate is 3.87%.

After deducting the issuance expenses, all proceeds from the issue of the Bonds will be used to replenish the Bank's tier-two capital according to the applicable laws and the approval of the supervision authorities, to optimize the capital structure and to promote the steady development of the business.

By Order of the Board

China CITIC Bank Corporation Limited

LI Qingping

Chairperson

Beijing, the PRC

14 August 2020

As at the date of this announcement, the executive directors of the Bank are Ms. Li Qingping (Chairperson), Mr. Fang Heying (President), and Mr. Guo Danghuai; the non-executive directors are Mr. Cao Guoqiang, Ms. Huang Fang and Mr. Wan Liming; and the independent non-executive directors are Mr. He Cao, Ms. Chen Lihua, Mr. Qian Jun and Mr. Yan Lap Kei Isaac.

Disclaimer

China CITIC Bank Corporation Limited published this content on 14 August 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 14 August 2020 10:47:20 UTC


© Publicnow 2020
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Financials
Sales 2020 199 B 30 269 M 30 269 M
Net income 2020 44 554 M 6 787 M 6 787 M
Net Debt 2020 - - -
P/E ratio 2020 3,39x
Yield 2020 7,09%
Capitalization 156 B 23 677 M 23 700 M
Capi. / Sales 2020 0,78x
Capi. / Sales 2021 0,73x
Nbr of Employees 53 703
Free-Float 23,6%
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Technical analysis trends CHINA CITIC BANK CORPORATION LIMITED
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TrendsNeutralNeutralBearish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 21
Average target price 3,89 CNY
Last Close Price 2,96 CNY
Spread / Highest target 73,7%
Spread / Average Target 31,4%
Spread / Lowest Target -14,1%
EPS Revisions
Managers
NameTitle
He Ying Fang President, GM, CFO & Executive Director
Qing Ping Li Chairman
Cheng Liu Chairman-Supervisory Board
Gang Li Member-Supervisory Board & GM-Audit
Guo Qiang Cao Non-Executive Director
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