Hailiang to redeem convertible bonds; trading suspension nears

Zhejiang Hailiang Co., Ltd. announced the early redemption of its convertible bonds, with the last trading day set for September 23, 2025. Bondholders have until September 26, 2025, to convert their bonds into shares. After this date, any unconverted bonds will be subject to mandatory redemption and will cease trading. The company's stock price met the conditional redemption clause between August 4 and August 25, 2025, triggering the early redemption.

The redemption price for each bond is set at CNY 101.710, which includes accrued interest. This price is based on the bond's face value plus accrued interest calculated from November 21, 2024, to the redemption date of September 29, 2025. Unconverted bonds will be redeemed at this price, which may differ from market prices before the trading and conversion suspensions.

Hailiang convertible bonds will be delisted from the Shenzhen Stock Exchange following the redemption. Bondholders are advised to review the announcement, understand the risks, and decide whether to convert their bonds or accept the redemption by the specified deadlines. Holders with pledged or frozen bonds should resolve these issues before the conversion deadline to avoid redemption complications.