Kingsoft (HK:3888) has released an update.
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Kingsoft Corporation Limited has announced an adjustment to the conversion price of its HK$3,100,000,000 0.625% convertible bonds due in 2025 following the payment of consecutive annual dividends from 2021 to 2023. The adjustment will decrease the conversion price from HK$35.32 to HK$34.77 per share, effective from June 8, 2024, which is expected to increase the maximum number of shares issuable upon full conversion by 1,388,351 shares. The additional shares will be issued under a general mandate received from shareholders in 2019, with a listing application to be made on the Hong Kong Stock Exchange in due course.
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