Wens Foodstuff halts convertible bond conversion for buyback option

Wens Foodstuff Group (SZSE: 300498) announced a temporary suspension of its convertible bond ("Wens Convertible Bond," code: 123107) conversion rights. The suspension, effective from January 2nd to 8th, 2025, facilitates a buyback option for bondholders following the company's shareholder-approved change in the use of proceeds from the bond issuance. The change, detailed in a prior announcement (2024-149), concerns a portion of the RMB 929.7 million raised through the issuance of 92.97 million convertible bonds in 2021. Trading of the bonds will continue as usual during the suspension period. Conversion rights will resume on January 9th, 2025.