Shenwan Hongyuan Group (06806) plans to issue perpetual subordinated bonds not exceeding 30 billion yuan.
Shenwan Hongyuan (06806) announced that it recently received a report from its subsidiary Shenwan Hongyuan Securities Co., Ltd., stating that the third session of the 12th board meeting of Shenwan Hongyuan Securities approved the proposal of issuing perpetual subordinated bonds. The company agreed to issue perpetual subordinated bonds with a total amount not exceeding 30 billion yuan, in accordance with relevant laws, regulations, and regulatory requirements, subject to approval from regulatory authorities, using a phased issue method.
Shenwan Hongyuan Group (06806) announced that its subsidiary, Shenwan Hongyuan Group Securities Limited, recently reported that the 12th meeting of the third board of directors of Shenwan Hongyuan Group Securities approved the proposal on the issuance of perpetual subordinated bonds by Shenwan Hongyuan Group Securities Limited. The board agreed that, subject to compliance with relevant laws and regulations, regulatory requirements, and obtaining regulatory approval, Shenwan Hongyuan Group Securities Limited may issue perpetual subordinated bonds with a total issuance size not exceeding RMB 30 billion, using a phased issuance approach.
The proceeds from the issuance of the perpetual subordinated bonds, after deduction of issuance expenses, are intended to be used to supplement the operating funds of Shenwan Hongyuan Group Securities and to repay maturing debts.
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