Summary by Futu AI
WEIMOB INC. COMPLETED ON APRIL 29, 2024 THE ACQUISITION OF US$300 MILLION OF ZERO-SUM GUARANTEED CONVERTIBLE DEBENTURES MATURING IN 2026. According to the announcements of 18 and 19 April 2024, the transaction has been met with all repurchase conditions. The amount of this repurchase is approximately $195.82 million, plus the bonds previously repurchased in the market. A total of approximately $294.61 million of bonds have been repurchased, representing approximately 98.2% of the initial amount. The remaining outstanding principal amount is approximately US$5.39 million, representing approximately 1.8%. In addition, the new bonds have been issued on the same day and are expected to be officially listed on the Singapore Stock Exchange on April 30, 2024. Micro-Union Group said the company could continue to purchase the remaining convertible debt under the terms.