Shanghai Electric Group Company (HK:2727) has released an update.
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Shanghai Electric Group Company Limited has announced the start of the exchange period for the non-public issuance of exchangeable corporate bonds by its controlling shareholder, SEGC, set to run from September 30, 2024, to March 27, 2027. SEGC, holding nearly 50% of the company’s shares, has pledged over 10% of the total share capital to support these bonds. The company assures stakeholders it will monitor the bond exchange process and comply with disclosure obligations.
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