Shenglan to Redeem Shenglan Convertible Bond 02 Early
MT Newswires Live
3 hours ago
Shenglan Technology (SHE:300843) plans to redeem the Shenglan Convertible Bond 02 early on Friday, Sept. 9, according to a Thursday disclosure on the Shenzhen bourse.
The maturity of the bonds is on Oct. 12, but the early redemption option was triggered after the Chinese electronic connector manufacturer's stock price between Aug. 20 and Sept. 9 closed at not less than 130% of the current conversion price of 54.36 yuan per share.
Net proceeds from the convertible bonds were 446.7 million yuan.
The company's shares rose 2% during the midday trade.
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