December 8, 2016 / 1:37 AM / 7 months ago

BRIEF-China Minsheng Banking announces issuance of offshore preference shares

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Dec 8 (Reuters) - China Minsheng Banking Corp Ltd :

* Announces proposed issuance of U.S.$1.44 billion 4.95% non-cumulative perpetual offshore preference shares

* Each offshore preference share will be issued and fully paid in u.s. Dollars and is denoted with a paid up value of u.s.$20

* Offshore preference shares will have a par value of RMB100 each

* Expects the net proceeds raised from offshore preference shares issuance, after expenses , to be approximately RMB9.85 billion

* Net proceeds raised will be used to replenish bank's additional tier 1 capital

* Application has been made to Hong Kong stock exchange for listing of, and permission to deal in, offshore preference shares Source text for Eikon: Further company coverage:

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