East West to issue 1.8 million shares for 8% convertible preferreds

By Jennifer Chiou

New York, July 17 - East West Bancorp, Inc. entered into an agreement with a shareholder, under which it will issue 1.8 million common shares for 20,000 shares of its 8% non-cumulative perpetual convertible preferred stock, series A held by the investor, according to an 8-K filing with the Securities and Exchange Commission.

The shares are set to settle on Monday.

In addition, the company previously issued 41,940 common shares in exchange for 466 shares of the series A preferreds.

The company is based in Pasadena, Calif.

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