Bethel to issue CNY 280.2m convertible bonds

Wuhu Bethel Auto Safety Systems (SSE:603596) announced plans to issue CNY 280.2 million in convertible corporate bonds to unspecified investors. The offering, set to begin July 1, 2025, will allow existing shareholders to purchase bonds on a preferential basis, with remaining bonds offered online. Bondholders can convert their bonds to company stock starting January 7, 2026, at an initial conversion price of CNY 52.42 per share. The bonds have a term of six years, with interest rates ranging from 0.1% to 2.0%. China International Capital Corporation (CICC) will act as the lead underwriter for the offering.