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Xinyi Glass will repurchase high priced convertible bonds

Xinyi Glass (00868-hk) announced that the board of directors decided that the company would repurchase convertible bonds with a principal amount of 156 million yuan from investors, equivalent to about 20.1% of the outstanding principal amount of convertible bonds. The directors expect the repurchase to be completed on the 19th of this month. After the repurchasing and cancellation of the repurchased convertible bonds are completed, the issuance of the convertible bonds can be used for stretching, tightening and twists of various materials such as metal and non-metal. The amount of the convertible bonds is 620million yuan for a lifetime free upgrade, which can be converted into 109million shares according to the current conversion price of 5.7 yuan for the packaging materials it can be used for food and surgical suture in medical treatment, which is equivalent to 2.77% of the currently issued shares

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