Ge Long Hui·2025-08-15 08:32Core Viewpoint - The Industrial and Commercial Bank of China (ICBC) has announced the approval of the redemption of its $2.9 billion offshore preferred shares, with the redemption date set for September 23, 2025 [1] Group 1: Redemption Details - The board of directors has approved the redemption of the offshore US dollar preferred shares issued on September 23, 2020 [1] - The bank has received a response from the financial regulatory authority, indicating no objections to the redemption of the offshore US dollar preferred shares [1] - The redemption price will be based on the liquidation preference amount per share plus any declared but unpaid dividends from the last interest payment date up to the redemption date [1] Group 2: Payment Process - The redemption payment will be made through Euroclear Bank SA/NV and Clearstream Banking, S.A. to the registered shareholders as of the record date, which is the business day before the payment due date [1] - The record date for the payment is set for September 22, 2025 [1]