China Shipbuilding Industry Opts Not to Early Redeem 1.50 Billion Yuan Convertible Bonds

MT Newswires Live

02/26

China Shipbuilding Industry Group Power (SHA:600482) decided not to exercise the early redemption of convertible bonds worth 1.50 billion yuan, according to a Shanghai bourse filing on Thursday.

The convertible bonds, named Power Ding 02, was issued in 2020 and has a term of six years.

The early redemption option was allowed if the outstanding unconverted balance falls below 30 million yuan during the conversion period.

The shipbuilding conglomerate's shares rose 2% during the midday trade.

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