BBMG Jidong Cement Says Resale Clause of 2.82 Billion Yuan Convertible Bond Triggered

MT Newswires Live12-17 18:00

BBMG Jidong Cement Group (SHE:000401), formerly Tangshan Jidong Cement, said the put or resale clause of a 2.82 billion yuan convertible bond was triggered after the depreciation of conversion value, according to a Shenzhen bourse filing on Wednesday.

During the clause period, the conversion of the convertible bond will be suspended between Dec. 22 and Dec. 26. The conversion will resume on Dec. 29.

The clause was triggered as the cement manufacturer's shares hit 9.11 yuan per share between Nov. 5 and Dec. 16, Tuesday, which is below 70% of the convertible bond's conversion price of 13.01 yuan per share.

The convertible bond was issued in 2020.

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