Milkyway Chemical adjusts convertible bond price, trading resumes

Milkyway Chemical Supply Chain Service Group Co., Ltd. (SSE:603713) has announced an adjustment to the conversion price of its "Miwei Convertible Bonds" (113658) due to a share repurchase and cancellation. The new conversion price will be 56.43 RMB per share, a slight increase from the previous 56.38 RMB. Trading of the bonds was temporarily suspended on February 11, 2025, and will resume on February 12, 2025. The adjustment is effective February 12, 2025. The company's initial conversion price was 134.55 RMB/share. The adjustment follows a share repurchase of 2,533,517 shares, which were subsequently cancelled, impacting the company's total share capital. The convertible bonds, with a total value of 872,388,000 RMB, were issued on September 16, 2022, and have a five-year term.