Bank of Shanghai suspends convertible bond conversion for equity distribution

Bank of Shanghai (SSE: 601229) has announced the suspension of conversion rights for its "Shanghai Bank Convertible Bonds" (SSE:113042) in conjunction with the implementation of its 2024 equity distribution plan. The suspension will be effective from June 5, 2025, until the equity registration date for the distribution. This is to facilitate the distribution of a cash dividend of CNY 2.20 per 10 shares to ordinary shareholders, as approved at the company's 2024 annual general meeting on May 16, 2025. Trading of the bonds will not be affected. Conversion rights will be reinstated on the first trading day following the equity registration date. The Bank will announce the adjusted conversion price on June 6, 2025.