China Minsheng to redeem $1.44 billion 4.95% perpetual offshore preference shares

By Rebecca Melvin

Concord, N.H., Oct. 26 – China Minsheng Banking Corp. Ltd. said it will redeem all $1,439,000,000 of 4.95% non-cumulative perpetual offshore preference shares, or 71.95 million shares, at par plus accrued dividends up to the redemption date on Dec. 14, according to a company notice.

The redemption price of all the offshore preference shares is $1,510,230,500, which includes $1,439,000,0000 and $71,230,500 in dividends.

The shares will be redeemed and canceled and delisted from the Hong Kong Exchange on Dec. 15.

The lender is based in Beijing.

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