Qingdao Tianneng Heavy Industries (SHE:300569) said its convertible bond, Tianeng Convertible will resume conversion on Feb. 21, following a suspension from Feb. 14 to Feb. 20 due to the activation of a conditional sell-back clause, according to a Friday filing with the Shenzhen Bourse.
The suspension was triggered as the company's stock price fell below 70% of the conversion price for 30 consecutive trading days. Bondholders can now proceed with conversion under the existing terms.
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