Kangtai Bio proposes lowering convertible bond conversion price

Shenzhen Kangtai Biological Products (SZSE:300601) announced its board has proposed lowering the conversion price of its outstanding convertible bonds, "Kangtai Convertible 2" (123119). The proposal, passed at the company's eighth board meeting on February 20, 2025, will be submitted for shareholder approval at an upcoming meeting. The move comes as the company's stock price has triggered a clause in the bond agreement allowing for a downward revision. As of the announcement, the current conversion price is 19.81 yuan per share. If approved, the revised price will be no lower than the higher of the average stock price in the 20 trading days or the single trading day immediately preceding the upcoming shareholder meeting. The board is seeking authorization to handle related matters, with validity until completion.