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Huatai Securities Co ( (HK:6886) ) has shared an announcement.
Huatai Securities Co. has entered into a subscription agreement with a syndicate of managers for the proposed issuance of zero coupon convertible bonds due 2027 with an aggregate principal amount of HK$10 billion under its general mandate. The bonds, which will be offered to at least six independent professional investors and listed on the Vienna MTF, are convertible into H shares at an initial price of HK$19.70 per share, representing a premium to recent market prices and potentially adding roughly 507.6 million H shares, or about 5.32% of total enlarged share capital, upon full conversion. Net proceeds of approximately HK$9.92 billion are earmarked to support Huatai’s international business development and supplement working capital, strengthening its capital base and enhancing its capacity to expand overseas while the conversion structure may lead to future equity dilution for existing shareholders. The conversion shares will be issued under the company’s existing general mandate without further shareholder approval, and an application will be made for their listing on the Hong Kong Stock Exchange, with the company also required to complete relevant CSRC filings for the bond issuance.
The most recent analyst rating on (HK:6886) stock is a Buy with a HK$21.50 price target. To see the full list of analyst forecasts on Huatai Securities Co stock, see the HK:6886 Stock Forecast page.
More about Huatai Securities Co
Huatai Securities Co., a joint stock company incorporated in the People’s Republic of China and listed in Hong Kong under stock code 6886, operates in the financial services industry, providing securities and related investment services. The firm is carrying on business in Hong Kong as HTSC and is focused on developing its international operations alongside its domestic securities activities.
YTD Price Performance: -0.96%
Average Trading Volume: 9,952,465
Technical Sentiment Signal: Buy
Current Market Cap: HK$219.5B
Find detailed analytics on 6886 stock on TipRanks’ Stock Analysis page.