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INDUSTRIAL AND COMMERCIAL BANK OF CHINA LIMITED

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Industrial and Commercial Bank of China : Announcement on the Completion of the Issuance of Undated Additional Tier 1 Capital Bonds

06/08/2021 | 06:05am EDT

Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.

Stock Code: 1398

EUR Preference Shares Stock Code: 4604

USD Preference Shares Stock Code: 4620

ANNOUNCEMENT ON

THE COMPLETION OF THE ISSUANCE OF

UNDATED ADDITIONAL TIER 1 CAPITAL BONDS

The second extraordinary general meeting of 2020 of Industrial and Commercial Bank of China Limited (the "Bank") held on 26 November 2020 considered and approved the Proposal on the Issuance of Undated Additional Tier 1 Capital Bonds, and approved the issuance by the Bank of write-down undated additional tier 1 capital bonds of an amount no more than RMB100 billion. With the approvals of the China Banking and Insurance Regulatory Commission and the People's Bank of China, the Bank issued "Industrial and Commercial Bank of China Limited 2021 Undated Additional Tier 1 Capital Bonds (First Tranche)" (the "Bonds") in China's national inter-bank bond market, and completed the registration and custody of the Bonds at China Central Depository & Clearing Co., Ltd.

The Bonds were book-built on 4 June 2021 and the issuance was completed on 8 June 2021. The size of issuance of the Bonds is RMB70 billion. The coupon rate is 4.04% during the first five years, and will be reset every 5 years. The issuer shall have a conditional redemption right on every dividend payment date from the fifth year onwards.

The proceeds from this issuance of the Bonds will be used to replenish the Bank's additional tier 1 capital in accordance with applicable laws and approvals by the regulatory authorities.

The Board of Directors of

Industrial and Commercial Bank of China Limited

Beijing, PRC

8 June 2021

As at the date of this announcement, the Board of Directors comprises Mr. CHEN Siqing and Mr. LIAO Lin as executive directors, Mr. LU Yongzhen, Mr. ZHENG Fuqing, Mr. FENG Weidong and Ms. CAO Liqun as non-executive directors, Mr. Anthony Francis NEOH, Mr. YANG Siu Shun, Mr. SHEN Si, Mr. Nout WELLINK and Mr. Fred Zuliu HU as independent non-executive directors.

Disclaimer

ICBC - Industrial and Commercial Bank of China Limited published this content on 08 June 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 08 June 2021 10:04:08 UTC.


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Financials
Sales 2021 890 B 138 B 138 B
Net income 2021 323 B 49 847 M 49 847 M
Net Debt 2021 - - -
P/E ratio 2021 4,12x
Yield 2021 7,48%
Capitalization 1 580 B 244 B 244 B
Capi. / Sales 2021 1,77x
Capi. / Sales 2022 1,65x
Nbr of Employees 439 787
Free-Float 67,5%
Chart INDUSTRIAL AND COMMERCIAL BANK OF CHINA LIMITED
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Industrial and Commercial Bank of China Limited Technical Analysis Chart | 1398 | CNE1000003G1 | MarketScreener
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Mean consensus BUY
Number of Analysts 26
Last Close Price 3,70 CNY
Average target price 5,49 CNY
Spread / Average Target 48,2%
EPS Revisions
Managers and Directors
Lin Liao Vice Chairman & President
Wen Wu Zhang Senior Executive VP, GM-Finance & Accounting
Si Qing Chen Chairman
Xiang Jiang Wu Member-Supervisory Board
Anthony Francis Neoh Independent Non-Executive Director
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