Phichem to redeem "Feikai convertible bonds"

Shanghai Phichem Material (SZSE:300398) has announced the early redemption of all outstanding "Feikai Convertible Bonds." The redemption, triggered by the company's stock price exceeding 120% of the current conversion price for at least 15 trading days, will occur on May 22nd, 2025. The redemption price is set at CNY 100.87 per bond, inclusive of accrued interest. Bondholders are urged to convert their bonds into shares before the May 21st deadline; trading will cease on May 19th, and conversion on May 22nd, with the bonds to be delisted from the Shenzhen Stock Exchange following the redemption. The company has appointed China Securities Depository and Clearing Corporation Shenzhen Branch for settlement. The redemption is intended to optimize the company's capital structure and reduce financial costs.