According to the Zhitong Finance App, CITIC (00267) issued an announcement regarding CITIC Limited's proposed subscription for A-share convertible bonds proposed by China CITIC Bank. In March 2019, CITIC Limited subscribed a total of RMB 26.388 billion worth of A-share convertible bonds issued by China CITIC Bank for itself and other members of the Group that are direct shareholders of China CITIC Bank at a face value of RMB 100 each. CITIC Limited transferred all of the A-share convertible bonds mentioned above to CITIC Financial Holdings in July 2022.
CITIC Financial Holdings, a wholly-owned subsidiary of the company, plans to use the share exchange right to convert all of its A-share convertible bonds with a total face value of RMB 26.388 billion to China CITIC Bank's A shares according to the conversion price.
As of the date of this announcement, CITIC Financial Holdings has not exercised any share exchange rights with respect to the proposed conversion, and the company will make further announcements on the progress of the proposed conversion in due course.