Wens Foodstuff halts convertible bond conversion for shareholder buyback

Wens Foodstuff Group (SZSE: 300498) will suspend the conversion of its "Wens Convertible Bonds" (bond code: 123107) from December 12 to 18, 2024. This pause facilitates a shareholder buyback option triggered by changes to the use of funds raised in a previous bond offering. Shareholders approved the termination and modification of certain investment projects funded by the offering at a meeting on December 10, 2024. As per regulations, this change necessitates a buyback offer to convertible bondholders. The original offering involved 92.97 million convertible bonds with a face value of 100 yuan each, totaling 9.297 billion yuan. The bonds, initially issued on March 29, 2021, have a six-year maturity and became convertible to shares on October 8, 2021. Conversion will resume on December 19, 2024. Trading of the convertible bonds will continue unaffected during the suspension period.