Lu'an Huanneng shareholder to pledge additional shares for bonds

Shanxi Lu'an Environmental Energy Development (SSE:601699) announced that its controlling shareholder, Lu'an Group, will pledge an additional 200 million company shares to maintain the guarantee ratio for its non-publicly issued technology innovation exchangeable corporate bonds (Phase 1). These bonds, dubbed "23 Lu'an EB" (137183.SH), were issued on December 4, 2023, with a total value of CNY4 billion, a three-year term, and a coupon rate of 0.01%. The share pledge represents 6.69% of the company's total issued share capital and 10.88% of Lu'an Group's holdings. Trading of the bonds into shares is allowed between June 5, 2024, and December 3, 2026.