Asia
Client Service International Proposes Lowering Bond Conversion Price
Client Service International (SHE:300663) said its board proposed downwardly revising the conversion price of its Kelan convertible bond after the stock price triggered the adjustment condition.The board wants to lower the price further to support long-term growth and optimize capital structure, according to a Wednesday filing with the Shenzhen bourse.The initial conversion price is 16.02 per share. It is currently at 13.20 yuan per share.The proposal requires approval from a two-thirds shareholder vote, with bond-holding investors abstaining.Shares of the financial software and information technology services provider closed 3% lower Wednesday.
SHE:300663
