Bank of Zhengzhou plans RMB 8 billion offshore preference shares

By Marisa Wong

Morgantown, W.Va., March 27 – Bank of Zhengzhou Co., Ltd. said it is planning to issue up to RMB 8 billion of offshore preference shares.

Proceeds will be used to replenish the bank’s tier 1 capital.

The proposed issuance is subject to shareholders’ approval.

The bank is based in Zhengzhou, China.

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