KYOTO GROUP (KYOTO GROUP-SW) ANNOUNCED PLANS TO ISSUE A TOTAL OF US$15 BILLION OF CONVERTIBLE PREFERRED NOTES MATURING IN 2029, WITH A POSSIBLE INCREASE OF UP TO US$2.25 BILLION. The funds will be used for the simultaneous repurchase of the Company's shares, overseas business expansion, supply chain network improvement and replenishment of liquidity. The company's shares include Class A ordinary shares and Class B ordinary shares. Class A ordinary shares are listed on the Nasdaq Global Select Market in the United States, with the stock code JD. Holders of the Notes may, under certain conditions, require the Company to repurchase the Notes for cash or convert them to US Depositary Shares prior to maturity. The synchronized repurchase will...Show More

KYOTO GROUP (KYOTO GROUP-SW) ANNOUNCED PLANS TO ISSUE A TOTAL OF US$15 BILLION OF CONVERTIBLE PREFERRED NOTES MATURING IN 2029, WITH A POSSIBLE INCREASE OF UP TO US$2.25 BILLION. The funds will be used for the simultaneous repurchase of the Company's shares, overseas business expansion, supply chain network improvement and replenishment of liquidity. The company's shares include Class A ordinary shares and Class B ordinary shares. Class A ordinary shares are listed on the Nasdaq Global Select Market in the United States, with the stock code JD. Holders of the Notes may, under certain conditions, require the Company to repurchase the Notes for cash or convert them to US Depositary Shares prior to maturity. The synchronized repurchase will take place pursuant to the Company's share repurchase plan announced in March 2024 and is expected to have a potential dilutive impact on the Company's common equity holders upon conversion of the offset notes. The sale of this note has not yet been completed and the Company does not guarantee that the sale will be completed.