1. Preparation before debt-to-equity swap (1) Convertible bonds can only be converted during the conversion period. At present, the conversion period of convertible bonds traded in the market is generally 6 months from the issue date of convertible bonds to the maturity date of convertible bonds. It can be converted into shares on any trading day during the period. (2) Debt-to-equity swap is free, and there is no need to prepare additional funds in the account for stock trading. (3) It should be noted that convertible bonds generally have an early redemption clause. Investors holding convertible bonds should pay close attention to this. Once the company issues a redemption announcement, it needs to be converted or sold in time, otherwise there will be greater losses. Generally, the redemption price of a company only redeems bonds at a very small margin of face value; In many cases, the price of convertible bonds is much higher than the face value. (4) The total face value of the convertible bonds applied for conversion must be an integer multiple of 65,438+0,000 yuan. The shares finally obtained by applying for share conversion are integer shares. If the mantissa is less than 1 share, the company will pay in cash within 5 trading days after the date of share conversion. The redemption amount is the number of shares after the decimal point multiplied by the conversion price. For example, if the remaining 0.88 shares are converted into 5 yuan, the redemption amount is 0.88*5=4.4 yuan. 2. Specific operation method of convertible debt-to-equity swap On the securities trading page, enter the conversion code (be careful not to enter the conversion code, otherwise it will be a business transaction), and then enter the quantity to be converted (you don't need to fill in the stock price, and the system will automatically display 100 yuan). In the interface of some securities companies, you can also make entrusted purchases. This is because as long as you enter the share conversion code below, the system will default that you want to exercise the right of share conversion. Generally speaking, it is more beneficial to sell convertible bonds directly during the conversion period than to convert them into shares. Otherwise, a large number of investors will buy convertible bonds first, then convert them into stocks immediately, and then throw them out for risk-free arbitrage the next day. However, for retail investors and institutional investors who hold a large number of shares, they may also choose to convert shares at a slight loss, because ordinary convertible bonds are not active, and direct conversion will greatly reduce the price of convertible bonds. /feed/4 ec2d 5628535 e5dd 354 dec 8 fc 938 DCE 5 cf 1b 6202 . png？ token = 826 c 124 1d 68870 f 03 170 a 93 1 DFD 09 bbf