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FINWIRES

Capchem to Not Redeem 1.97 Billion Yuan Capchem Bonds Early Despite Trigger

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Shenzhen Capchem Technology (SHE:300037) decided not to exercise its right to redeem the Capchem convertible bonds early, which are worth 1.97 billion yuan, due to current market conditions, according to a Shenzhen bourse filing on Wednesday.

The electronic chemicals manufacturer's shares rose 1% during Thursday's morning trade.

The right to early redemption was triggered when the closing price of the company's shares was at least 130% of the current conversion price of 40.49 yuan per share for at least 15 trading days.

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