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Zijin Mining A share convertibles to be redeemed on June 28
By Wendy Van Sickle
Columbus, Ohio, June 17 – Zijin Mining Group Co., Ltd. will redeem its A share convertible bonds on June 28, according to a notice.
The convertibles will be redeemed at RMB 100.129 each. The company noted that “a relatively substantial discrepancy exists between the prevailing market price and the redemption price,” meaning that the redemption may result in potential investment losses.
The record date is June 25.
The bonds may be converted until June 25.
From May 10 to May 28, the closing prices of the company’s A shares were no less than 130% of the prevailing conversion price of the convertibles for 15 consecutive trading days, triggering the redemption option.
Zijin Mining is a Xiamen, China-based multinational mining company.
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