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Luxshare Precision Industry Nears Convertible Bond Redemption Trigger; Shares Up 4%

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Luxshare Precision Industry (SHE:002475) said its share price has closed at or above 72.76 yuan, 130% of the 55.97 yuan conversion price of its convertible bond, for 10 trading days through June 2.

If the company's shares hit this level for five more days within the next 20 trading days, the conditional redemption clause will be triggered, giving the board the right to redeem all outstanding unconverted bonds at par value plus accrued interest.

The bonds, which mature in November, were issued in December 2020 for 3 billion yuan.

Shares of the electronic components manufacturer rose 4% in recent trade.

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