Bank of Nanjing to redeem convertible bonds

Bank of Nanjing (SSE:601009) announced that it will exercise its right to redeem all outstanding "Nanjing Bank Convertible Bonds" (SSE:113050). The decision, approved by the board on June 9, 2025, follows the fulfillment of the redemption trigger conditions. The bank's A-shares closed above 130% of the current conversion price of CNY 8.22 for 15 out of 19 consecutive trading days, meeting the requirements stipulated in the bond's offering prospectus. Bondholders have the option to convert their bonds to company A-shares at CNY 8.22 per share or face mandatory redemption at CNY 100 per bond, plus accrued interest. The redemption record date is set for June 13, 2025, with the redemption date following on June 16, 2025. The interest rate for this year is 1.2%. According to a verification report from China Securities Co., Ltd., the early redemption complies with all relevant laws and regulations.