Zoomlion to Raise RMB6 Billion via 2031 Convertible Bond Issue in Hong Kong

Zoomlion Heavy Industry Science & Technology Co ( (HK:1157) ) has shared an announcement.

Zoomlion has entered into a subscription agreement with a syndicate of managers to issue RMB6 billion of convertible bonds due 2031, to be placed with the managers or their designated subscribers following a completed bookbuilding exercise. The bonds, which will be listed in Hong Kong subject to regulatory approval, are convertible into approximately 673.2 million H shares at an initial conversion price of HK$10.02 per share, potentially expanding the company’s H share base by about 30% and its overall share capital by over 7%; the issue is conducted under an existing specific mandate and does not require further shareholder approval, though completion remains conditional and may not proceed, prompting a cautionary note to investors.

The most recent analyst rating on (HK:1157) stock is a Hold with a HK$8.50 price target. To see the full list of analyst forecasts on Zoomlion Heavy Industry Science & Technology Co stock, see the HK:1157 Stock Forecast page.

More about Zoomlion Heavy Industry Science & Technology Co

Zoomlion Heavy Industry Science and Technology Co., Ltd. is a Chinese joint stock company listed in Hong Kong that operates in the heavy equipment and construction machinery industry. The company focuses on manufacturing and selling a broad range of industrial and construction machinery, with its H shares traded on the Hong Kong Stock Exchange, giving it access to international capital markets.

Average Trading Volume: 8,291,917

Technical Sentiment Signal: Buy

Current Market Cap: HK$82.69B

See more data about 1157 stock on TipRanks’ Stock Analysis page.