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Yingliu Electromechanical Triggers Early Redemption of Convertible Bonds

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Anhui Yingliu Electromechanical (SHA:603308) triggered early redemption of its Yingliu convertible bond after its share price exceeded 130% of the conversion price for 15 consecutive trading days.

The company will redeem all outstanding bonds on Aug. 27 at 100.09 yuan per bond, below the current market price of 161.05 yuan, according to a Monday filing with the Shanghai Stock Exchange.

The bonds will be delisted from the Shanghai bourse on Aug. 28.

Shares of the equipment manufacturer were up 4% in recent trade.

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