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Forehope Electronic Sets Redemption Date for Convertible Bonds

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Forehope Electronic Ningbo (SHA:688362) will redeem its Forehope convertible bond on June 16 at 100.1945 yuan per bond, below the current market price of 221.27 yuan per bond.

The company triggered the redemption after its stock closed at or above 130% of the conversion price for 15 of 30 trading days, according to a Friday filing with the Shanghai bourse.

Bondholders must convert at 28.36 yuan per share or sell by June 10 to avoid forced redemption.

Shares of the integrated circuit packaging manufacturer closed 9% lower Friday.

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