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<Research>UBS: HENDERSON LAND (00012.HK) Plans to Issue $8B Worth of CB; Negative Impact Expected on Shr Price
HENDERSON LAND (00012.HK) proposed to issue $8 billion worth of convertible bonds due in 2030, with an annual coupon rate of 0.5%. The initial conversion price is $36, representing...
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<Research>UBS: HENDERSON LAND (00012.HK) Plans to Issue $8B Worth of CB; Negative Impact Expected on Shr Price
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HENDERSON LAND (00012.HK)  -0.200 (-0.753%)    Short selling $61.17M; Ratio 29.158%   proposed to issue $8 billion worth of convertible bonds due in 2030, with an annual coupon rate of 0.5%. The initial conversion price is $36, representing a premium of 26.98% over yesterday (8th)'s closing price.

Approximately 222 million new shares can be converted, equivalent to 4.39% of its enlarged share capital. The net proceeds of $7.92 billion will be used for general corporate purposes and/or refinancing.

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The issuance of HENDERSON LAND's convertible bonds may reflect the management's view on the stock price's upside potential in the coming years, UBS said.

Therefore, the broker expected HENDERSON LAND's share price and the related industry may react negatively to the news. UBS rated the stock at Buy, with a target price of $29.

HENDERSON LAND opened 4.94% lower today, and bottomed at $25.2. It last printed at $26, down 8.29%, with a trading volume of 20.9975 million shares, involving $544 million.
(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2025-07-16 16:25.)

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