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Kedali Calls Early Redemption of Convertible Bond; Shares Up 5%

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Shenzhen Kedali Industry (SHE:002850) plans to redeem the six-year Keli Convertible Bond early on June 15, according to a Saturday disclosure on the Shenzhen bourse.

The redemption price is 101.41 yuan per bond.

The convertible bond, which was issued in 2022, became eligible for early redemption after its stock price closed above 130% of the current conversion price on at least 15 trading days.

Kedali's shares traded at 193.31 yuan during the observation period from April 16 to May 18.

Shares of the battery structural component manufacturer rose 5% in Monday afternoon trade.

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