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ZIJIN MINING Issues USD1.5B CBs
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ZIJIN MINING (02899.HK) announced the issuance of USD1.5 billion zero coupon guaranteed convertible bonds (CBs) due 2031, with an initial conversion price of HKD63.3 per share, representing a premium of approximately 37.19% over the closing price of HKD46.14 on the previous day (29th). The bonds can be fully converted into approximately 185 million H shares, accounting for approximately 2.99% of the number of issued H Shares and approximately 0.69%of the number of issued Shares as enlarged by the issue of Conversion Shares upon full conversion of the Bonds. The net proceeds from the bond issuance are approximately USD1.527 billion. The Company intends to use such proceeds for capital expenditures relating to the construction of the La Arena Project in Peru, with the balance of the proceeds to be used for working capital and other general corporate purposes. The Issuer will apply to the Vienna MTF operated by the Vienna Stock Exchange for the listing of, and permission to deal in, the Bonds, and the Company will apply to the Hong Kong Stock Exchange for the listing of the Conversion Shares to be allotted and issued upon conversion of the Bonds on the Hong Kong Stock Exchange. AASTOCKS Financial News Website: www.aastocks.com |
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