Tongling Nonferrous to redeem convertible bonds after major investor exits

Tongling Nonferrous Metals Group announced that a bondholder's stake in its "Tongling Ding 02" convertible bonds has fluctuated, ultimately reaching 0%. Caitong Fund Management Co., Ltd. initially subscribed to 10,000,000 bonds in September 2023, representing 46.60% of the total issuance. Through a series of sales and conversions, Caitong Fund's holdings decreased, resulting in a 0% stake by September 22, 2025.

Concurrently, the company announced the early redemption of its "Tongling Ding 02" convertible bonds. This decision follows the satisfaction of redemption conditions, as the company's stock price met the 130% threshold of the current conversion price (RMB 3.20/share) for 15 trading days within a 30-day period. The redemption price is set at RMB 100.063 per bond, including accrued interest.

The "Tongling Ding 02" bonds will stop trading on September 30, 2025, with the redemption registration date on October 10, 2025. The final redemption date is October 13, 2025, after which any remaining unconverted bonds will be forcibly redeemed, and the bonds will be delisted from the Shenzhen Stock Exchange.