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STANCHART Issues USD1B Fixed Rate Resetting Perpetual Subordinated Contingent Convertible Securities
2025-11-05 08:14:42 STANCHART (02888.HK) announced the issuance of USD1 billion fixed rate resetting perpetual subordinated contingent convertible securities at a fixed rate of 7% per annum. With a conversion price of USD20.76 per share, the securities are convertible into 48.1696 million ordinary shares, representing around 2.066% of the enlarged ordinary share capital. The denominations of the securities will be USD200,000 and integral multiples of USD1,000 in excess thereof. STANCHART expects the net proceeds from the issuance of the securities to be around USD991 million, which will be used for general business purposes and to further strengthen its regulatory capital base. Application will be made by STANCHART for the securities to be admitted to trading on the London Stock Exchange's International Securities Market. Application will also be made to the Hong Kong Stock Exchange for the listing of, and permission to deal in, the ordinary shares to be issued upon any conversion of the securities. ~ AAStocks Financial News Web Site: www.aastocks.com | |