Hangzhou Bank's convertible bonds may trigger redemption clause

Bank of Hangzhou (SSE:600926) announced that its shares have triggered the conditional redemption clause for its "Hangzhou Bank Convertible Bonds" (SSE:110079). For 10 out of 12 trading days between April 29, 2025 and May 19, 2025, the bank's stock closing price was at or above 130% of the current conversion price of CNY 11.35 per share, reaching CNY 14.76. If this threshold is met for 5 more trading days within the next 18 trading days, the bank has the right to redeem all or part of the outstanding convertible bonds at a price of par value plus accrued interest, in accordance with the offering prospectus. The bank will convene a board meeting to decide whether to redeem the bonds if the conditions are met and will disclose this information in due course. As of the announcement, the latest conversion price is CNY 11.35.