Xinjiang Communications Construction (SZ:002941) Shang Hai Zheng Quan Bao·2025-09-16 19:07Core Points - The company announced the early redemption of its convertible bonds "交建转债" with the last trading day set for September 17, 2025, and the last conversion day on September 22, 2025 [2][5][21] - The redemption price for the bonds is set at 100.044 yuan per bond, including accrued interest, with a current annual interest rate of 2.00% [3][15][16] - The decision for early redemption was made by the company's board on August 28, 2025, based on market conditions and the company's situation [11][12] Redemption Details - The bonds will stop trading on September 18, 2025, and the redemption will occur on September 23, 2025 [20][21] - Investors must ensure that any pledged or frozen bonds are released before the conversion deadline to avoid forced redemption [5][25] - The company will notify bondholders of the redemption details through daily announcements leading up to the redemption date [19][21] Bond Issuance and Trading - The company issued 8.50 billion yuan worth of convertible bonds on September 15, 2020, with an initial conversion price of 18.57 yuan per share [5][6][7] - The bonds were listed on the Shenzhen Stock Exchange on October 16, 2020, under the code 128132 [6][7] - The conversion price has been adjusted multiple times, with the latest adjustment bringing it down to 10.00 yuan per share as of June 25, 2025 [8][9][10] Conditions for Redemption - The early redemption was triggered as the company's stock price exceeded 130% of the conversion price for 15 trading days [11][12] - The company has the right to redeem the bonds if the unconverted balance is less than 30 million yuan or if the stock price conditions are met [13][14] Other Important Information - The redemption process includes a series of steps, including the registration date for redemption on September 22, 2025, and the funds being credited to bondholders' accounts by September 30, 2025 [21][22] - The company will publish the redemption results and delisting announcement within seven trading days after the redemption is completed [21][26]