Stock Track | SHOUCHENG Soars 5.71% Intraday on Full Conversion of $180 Million Convertible Bonds

Stock Track02-20

SHOUCHENG Holdings' stock price surged 5.71% during intraday trading on Friday, following a significant corporate announcement regarding its debt structure.

The company announced the complete conversion of all outstanding $180 million 0.75% convertible bonds due in 2026 into ordinary shares. This conversion eliminates the company's bond obligations and has resulted in the application for delisting of these bonds from the Hong Kong Stock Exchange.

Market participants viewed the full conversion positively, as it removes potential financial overhang and simplifies the company's capital structure, leading to the sharp price appreciation during the trading session.

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