Longi Green Energy considers lowering convertible bond price

Longi Green Energy Technology (SSE:601012) is seeking shareholder approval to lower the conversion price of its "Longi 22 Convertible Bonds" (SSE:113053), following the triggering of downward revision clauses. This decision stems from Longi's stock price trading below 85% of the current conversion price for 15 out of 30 consecutive trading days as of February 18, 2025. The proposed adjustment aims to optimize the company's capital structure and support long-term growth. If approved at the March 7, 2025, extraordinary general meeting, the adjusted price will be determined but no lower than the higher of the average stock price in the 20 trading days preceding the meeting or the day before the meeting. Shareholders holding "Longi 22 Convertible Bonds" must recuse themselves from voting. The general meeting of shareholders will be held on March 7, 2025.