China’s Huishang Bank plans RMB 6 billion offshore preference shares

By Marisa Wong

Morgantown, W.Va., March 28 – Huishang Bank Corp Ltd. said it plans to place up to RMB 6 billion of offshore preference shares to replenish its additional tier 1 capital.

The preference shares will be offered at or above par.

The preference shares will be mandatorily convertible into H shares under certain circumstances.

The proposed issuance is subject to shareholder and regulatory approval.

Huishang is a Hefei, Anhui, China-based lender.

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