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An announcement from Mobvista, Inc. ( (HK:1860) ) is now available.
Mobvista Inc. has announced that PAGAC III Munich Holding (Cayman) Limited has exercised its conversion rights in full over Mobvista’s outstanding US$30 million convertible bonds, together with approximately US$3.9 million in unpaid interest. At a conversion price of HK$5.54 per share, the company will issue and allot 47,460,016 new shares to the bondholder, ranking equally with existing shares, once the required internal and regulatory procedures are completed. The move converts debt into equity, reducing Mobvista’s financial liabilities while increasing its share capital and potentially altering its shareholder structure, with implications for existing shareholders’ dilution and the company’s capital structure flexibility.
The most recent analyst rating on (HK:1860) stock is a Hold with a HK$17.00 price target. To see the full list of analyst forecasts on Mobvista, Inc. stock, see the HK:1860 Stock Forecast page.
More about Mobvista, Inc.
Mobvista Inc. is a Cayman Islands–incorporated company listed in Hong Kong, operating in the technology sector. While this announcement does not detail its business lines, the group is known in the market as a mobile advertising and marketing technology provider with a focus on global app developers and digital advertisers.
Average Trading Volume: 18,273,524
Technical Sentiment Signal: Buy
Current Market Cap: HK$23.47B
For an in-depth examination of 1860 stock, go to TipRanks’ Overview page.