LONGi Green Energy Technology (SHA:601012) is expected to lower the conversion price of a 7 billion yuan convertible bond that was issued in 2022, according to a Shanghai bourse filing on Friday.
The conversion price of the six-year Long 22 Convertible Bond could be reduced if the closing price of the company's shares is lower than 85% of the current conversion price for at least 15 trading days.
The solar wafer manufacturer's stock closing price between May 21 and June 4 has been lower than 85% of the current conversion price of 14.8 yuan per share.
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