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CMOC Issues USD1.2B CBs at 28.7% Premium
Recommend 11 Positive 19 Negative 8 |
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CMOC (03993.HK) announced the issuance of USD1.2 billion zero coupon guaranteed convertible bonds due 2027, with an initial conversion price of HKD28.03 per share, representing a premium of approximately 28.7% over the closing price of HKD21.78 on the previous day (19th). The bonds are fully convertible into 334 million shares, equivalent to approximately 7.82% of the number of issued H Shares and approximately 1.54% of the number of issued Shares as enlarged by the issue of Conversion Shares upon full conversion of the Bonds. The net proceeds from the bond subscription will be approximately USD1.188 billion, to be used for expansion and sustaining capital for the Company’s overseas mining and processing assets; and to enhance the Company’s working capital flexibility and for general corporate purposes. The Company shall complete the CSRC Filings in connection with the offering. An application will be made to the Vienna Stock Exchange for the listing of the Bonds. The Company will also make an application to the Hong Kong Stock Exchange for the listing of, and permission to deal in, the Conversion Shares on the Hong Kong Stock Exchange. AASTOCKS Financial News Website: www.aastocks.com |
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