STANCHART(02888) plans to issue $1 billion fixed rate reset perpetual subordinated convertible securities.

STANCHART (02888) announced that the company plans to issue a total of 1 billion US dollars of fixed rate resetable perpetual subordinated convertible securities on January 16, 2025 (issue date) (ISIN Restricted Global Certificate: US853254DF47, ISIN Unrestricted Global Certificate: USG84228GP72). The company will apply for the securities to be traded on the International Securities Market of the London Stock Exchange. The company will also apply to The Stock Exchange of Hong Kong Limited (HKEx) for approval for the listing and trading of ordinary shares issued after the conversion of the securities. The face value of the securities is $200,000, with any excess amount calculated in multiples of $1,000.