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CPIC Issues Zero Coupon Convertible Bonds at 21.2% Premium, Expected to Raise Net $15.48B
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CPIC (02601.HK) announced the issuance of $15.556 billion zero coupon convertible bonds due 2030. The initial conversion price is set at $39.04 per share, representing a premium of approximately 21.24% over yesterday's (10th) closing price of $32.2. These bonds can be fully converted into approximately 398 million shares, accounting for 12.55% of the enlarged H shares and 3.98% of the issued share capital. The net proceeds from the Bonds are estimated to be approximately $15.48 billion. The Group intends to apply the net proceeds for development of insurance business; implementation of strategic development initiatives in health service & elderly care, AI+, internationalization; and general corporate purpose, including supplementing working capital. AASTOCKS Financial News Website: www.aastocks.com |
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