The approval granted by the China Securities Regulatory Commission for Shanghai Fudan Microelectronics Group's (HKG:1385) issuance of A-share convertible bonds to non-specific investors has expired, according to a Wednesday Hong Kong bourse filing.
Shares of the company were down about 1% in Thursday morning trade.
The company said it was unable to complete the issuance within the 12-month validity period, which began on July 10, 2024, after a resolution to extend the approval was not passed at a class meeting of shareholders.
Fudan said the expiry will not have a material impact on its production or operations.
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