Huahai Pharma lowers convertible bond price after share issue

Zhejiang Huahai Pharmaceutical (SSE: 600521) announced it will lower the conversion price of its "Huahai Convertible Bonds" (SSE: 110076) from 33.73 yuan to 33.21 yuan per share, effective March 28, 2025. This adjustment stems from the company's issuance of 41,152,263 new shares to specific investors at 14.58 yuan per share. Trading of the convertible bonds was suspended on March 27 and will resume on March 28. The initial conversion price was 34.66 yuan per share. The bonds mature on November 1, 2026, and are listed on the Shanghai Stock Exchange.