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Dynagreen trims price on A share convertible bonds
By Mary-Katherine Stinson
Lexington, Ky., July 18 – Dynagreen Environmental Protection Group Co. Ltd. lowered the conversion price of its A share convertible corporate bonds, according to a company news release.
The conversion price was adjusted to RMB 9.60 per share from RMB 9.72 per share effective on the ex-dividend date of July 26.
The adjustment was due to the 2022 equity distribution, which provides for a cash dividend of RMB 0.12 per share, tax inclusive, based on the aggregate share capital on the share-based equity registration date of July 25. The equity distribution plan was approved at the annual general meeting on June 16.
The conversion period of the bonds is from Sept. 5, 2022 to Feb. 24, 2028.
The conversion of the bonds will be suspended from July 18 to July 25.
The company originally issued the 23.6 million A share convertible corporate bonds with a nominal value of RMB 100 each, with a total issuance size of RMB 2.36 billion, on Feb. 25, 2022.
Dynagreen is a Guangdong, China-based waste management company.
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