China Cinda (01359) has announced that its board has approved and the National Financial Regulatory Administration has raised no objections to the full redemption of its outstanding offshore preference shares.

Pursuant to the terms and conditions of the offshore preference shares, the company plans to redeem all outstanding offshore preference shares on November 3, 2026 (the redemption date). The redemption price per share will be the liquidation preference amount (the issue price) plus any declared but unpaid dividends per share for the period from the previous dividend payment date (inclusive) to the redemption date (exclusive).

The total redemption consideration amounts to $1.7748 billion, comprising the $1.7 billion liquidation preference and $74.8 million in dividends. Payment will be made through Euroclear Bank SA/NV and Clearstream Banking S.A. to holders registered at the close of the clearing system on the record date (being the clearing system business day prior to the redemption date, i.e., November 2, 2026).

Following the redemption and cancellation of all existing offshore preference shares on the redemption date, the company will have no outstanding offshore preference shares. Accordingly, China Cinda will promptly apply to The Stock Exchange of Hong Kong Limited for the delisting of the offshore preference shares.