Truchum completes CNY 1.83bn convertible bond redemption

Anhui Truchum Advanced Materials & Technology completed redemption of its convertible bonds originally worth CNY 1.83 billion after the company's stock price exceeded the 130% redemption threshold.

The bonds, which had been trading since June 2020, saw their conversion price adjusted seven times to CNY 6.10 per share before the board exercised early redemption rights in July.

Only CNY 495,000 worth of bonds remained unconverted by the redemption date and were fully redeemed at CNY 100.389 per bond. The bonds ceased trading and will be delisted from the Shenzhen Stock Exchange.