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China Molybdenum Co ( (HK:3993) ) has issued an update.
CMOC Group Limited, via CMOC Capital Limited, has agreed to issue US$1.2 billion of zero coupon guaranteed convertible bonds due 2027, supported by a guarantee from the parent company, under its general mandate. The bonds, to be listed on the Vienna MTF with the resulting conversion shares to be listed in Hong Kong, are initially convertible into about 333.7 million H shares at HK$28.03 per share, reflecting a substantial premium to the recent market price and representing up to roughly 7.8% of enlarged H share capital, with expected net proceeds of about US$1.1875 billion earmarked for uses specified by the company; the transaction remains subject to conditions and may not complete, prompting the company to caution shareholders and investors about associated uncertainties and potential dilution upon full conversion.
The most recent analyst rating on (HK:3993) stock is a Buy with a HK$25.90 price target. To see the full list of analyst forecasts on China Molybdenum Co stock, see the HK:3993 Stock Forecast page.
More about China Molybdenum Co
CMOC Group Limited, through its financing arm CMOC Capital Limited, is a Chinese joint stock company listed in Hong Kong and engaged in the resources and mining sector, with its H shares traded on the Hong Kong Stock Exchange and international funding access via offshore bond markets.
YTD Price Performance: 16.94%
Average Trading Volume: 44,079,375
Technical Sentiment Signal: Buy
Current Market Cap: HK$562.4B
See more insights into 3993 stock on TipRanks’ Stock Analysis page.