Jilin Jiutai Rural wants more time to issue preference shares

By Marisa Wong

Morgantown, W.Va., Oct. 22 – Jilin Jiutai Rural Commercial Bank Corp. Ltd. is seeking more time to issue offshore preference shares, according to a company announcement.

The company had proposed to issue up to RMB 5 billion of offshore preference shares in August 2017 and obtained shareholder approval for the issuance in November 2017 that was valid for 12 months.

The company said it is now asking shareholders to approve a 12-month extension to issue the offshore preference shares.

The commercial bank is based in Changchun, China.

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