ICBC Proposes Share Issuance Under General Mandate

Industrial and Commercial Bank of China Limited (ICBC) announced a proposal to issue new shares under a general mandate, subject to shareholder approval. The bank intends to allot, issue, and/or deal with up to 26,961,221,253 A shares and 8,679,404,455 H shares.

This proposal, considered and approved by the Board on September 6, 2026, is in accordance with applicable laws, regulations, and the bank’s Articles of Association. The proposed issue price will be based on the average trading price of A shares for the 20 trading days preceding the pricing benchmark date. The Board also proposed authorizing changes to the bank’s registered capital and Articles of Association to reflect the new share issuance.

The general mandate, if approved, will be valid until the earlier of the next annual shareholders’ meeting, 12 months from approval, or revocation by a shareholder resolution. The issuance is part of an A Share Issuance Plan, and the bank has already entered into share subscription agreements related to these subscriptions.

ICBC’s move to potentially increase its share capital occurs within the context of China’s evolving regulatory landscape for financial institutions and ongoing adjustments to capital adequacy requirements. The proposed issuance does not alter the bank’s current share structure but provides flexibility for future capital raising activities.