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The latest announcement is out from China Hongqiao Group Ltd. ( (HK:1378) ).
China Hongqiao Group Limited plans an international offering of renminbi-denominated, U.S. dollar-settled convertible bonds aimed exclusively at professional investors outside the United States and the Hong Kong public. The principal amount and final terms are still being negotiated with appointed investment bank bookrunners and managers, and completion will depend on market conditions and investor demand.
In tandem with the bond issuance, the managers will run a concurrent equity offering of existing shares underlying the bonds to facilitate covered short sales by bond investors, while the company intends to repurchase a portion of those shares through a concurrent share buy-back. This structure is designed to support initial hedging activity for bondholders and could influence the company’s capital structure and share liquidity, though the transaction may not proceed if definitive agreements are not reached.
The most recent analyst rating on (HK:1378) stock is a Buy with a HK$43.90 price target. To see the full list of analyst forecasts on China Hongqiao Group Ltd. stock, see the HK:1378 Stock Forecast page.
More about China Hongqiao Group Ltd.
China Hongqiao Group Limited is a Cayman Islands-incorporated company listed in Hong Kong, operating in the aluminium and related metals sector. The group primarily focuses on international capital markets financing and addresses professional and institutional investors through offshore debt and equity-linked offerings.
Average Trading Volume: 43,700,072
Technical Sentiment Signal: Buy
Current Market Cap: HK$361.2B
For an in-depth examination of 1378 stock, go to TipRanks’ Overview page.