Hansoh Pharmaceutical to Raise HK$4.68 Billion via Zero-Coupon Convertible Bonds

The latest announcement is out from Hansoh Pharmaceutical Group Company Limited ( (HK:3692) ).

Hansoh Pharmaceutical Group Company Limited plans to issue HK$4.68 billion in zero-coupon convertible bonds due 2033, which may be converted into approximately 81.5 million shares at an initial conversion price of HK$57.39 per share, representing about 1.35% of the company’s existing share capital. The bonds will be offered outside the United States and in Hong Kong only to professional investors, with listing applications to be made for the bonds on the Vienna MTF and for the conversion shares on the Hong Kong Stock Exchange; net proceeds of around HK$4.64 billion will be used as specified by the company and the conversion shares will be issued under its existing general mandate, although completion of the deal remains subject to certain conditions, prompting the company to caution investors about potential execution and listing risks.

The most recent analyst rating on (HK:3692) stock is a Buy with a HK$48.20 price target. To see the full list of analyst forecasts on Hansoh Pharmaceutical Group Company Limited stock, see the HK:3692 Stock Forecast page.

More about Hansoh Pharmaceutical Group Company Limited

Hansoh Pharmaceutical Group Company Limited is a Hong Kong–listed biopharmaceutical company engaged in the research, development, manufacturing and commercialization of pharmaceutical products. The group focuses on innovative and generic prescription medicines, serving hospital and professional healthcare markets in China and internationally.

Average Trading Volume: 8,281,568

Technical Sentiment Signal: Buy

Current Market Cap: HK$242.1B

For detailed information about 3692 stock, go to TipRanks’ Stock Analysis page.