SHA:688301

IRay Technology Shareholders to Shed Over 2.8 Million Shares; Shares Down 7%

IRay Technology Company (SHA:688301) shareholder Hainan Heyin and director Richard Aufrichtig plan to offload up to 2.84 million shares via centralized bidding between July 17 and Oct. 16.Hainan Heyin will sell 2.8 million shares, or 0.93% of total equity, while Aufrichtig will dispose of up to 40,000 shares, or 0.02%, according to a Friday filing on the Shanghai bourse. Both cited personal capital needs for the move.Shares of the X-ray system components manufacturer were down 7% in recent trade.

IRay Technology to Undertake Mandatory Bond Redemption

IRay Technology (SHA:688301) on July 6 will undertake the mandatory redemption of convertible bonds after the stock triggered early redemption conditions.The last trading day is June 30, with a final conversion date of July 3, according to a Monday filing with the Shenzhen bourse.The company urged bondholders to convert at 81.43 yuan per share or sell within the prescribed period to avoid potential investment losses.Shares of the X-ray system components manufacturer were down 4% in recent trade.

IRay Buys Back Shares for 100 Million Yuan

IRay Technology (SHA:688301) repurchased shares for 100.1 million yuan, according to a Shanghai bourse filing on Thursday.The X-ray system components maker bought back 986,592 shares, representing 0.33% of the company's total shares, for between 98.14 yuan and 98.14 yuan each share.The repurchased shares will be used for employee stock ownership plans or equity incentives.

IRay to Exercise Early Redemption of Convertible Bonds

IRay Technology (SHA:688301) decided to exercise the early redemption of the iRay Convertible Bonds, according to a Shanghai bourse filing on Tuesday.The company is given the option to redeem the convertible bonds early after its share price is at 130% of its current conversion price for at least 15 trading days.The X-ray system components maker's closing share price was at 149.46 yuan per share between May 19 and June 8.The six-year convertible bond's term is between Oct. 24, 2022 and Oct. 23, 2028. It initial conversion price is 499.89 yuan per share.

Nomura Adjusts iRay Technology's Price Target to 139.50 Yuan from 114.41 Yuan, Keeps at Buy