[ET Net News Agency, 11 October 2017] Bank of Zhengzhou (06196) said it proposes to
issue US$1,191 million 5.5% non-cumulative perpetual offshore preference share(s).
The bank expects the proceeds raised from the offshore preference shares issuance, after
deduction of the expenses relating to the issuance, to be about Rmb7,854 million, which
will be used to replenish the bank's Additional Tier 1 Capital.
Southwest Securities International Securities (00812) said it agreed to subscribe for
the offshore preference shares issued by Bank of Zhengzhou in the total subscription
amount of not exceeding US$18 million. The dividend rate is expected to range around 5.3%
to 5.6%. The conversion price is HK$5.38, which may be adjusted under specific
circumstance. (HL)