Zijin Mining Group Co., Ltd. (Zijin Mining) signed a subscription agreement with Morgan Stanley, CITIC Securities, UBS AG Hong Kong Branch and GF Securities (Hong Kong) Brokerage Co., Ltd. on June 17, 2024, planning to issue a total of $2 billion secured convertible bonds with an annual interest rate of 1% and due in 2029. At the same time, on June 18, 2024, the company also entered into a placement agreement with a placement agent, intending to place a maximum of 251,900,000 new H shares at a price of HKD 15.50 per share. The bonds can be converted into H shares at an initial conversion price of HKD 19.84 per share, with a premium of approximately 21.57% over the closing price on June 17, 2024. The bonds and conversion shares will apply for...Show More

Zijin Mining Group Co., Ltd. (Zijin Mining) signed a subscription agreement with Morgan Stanley, CITIC Securities, UBS AG Hong Kong Branch and GF Securities (Hong Kong) Brokerage Co., Ltd. on June 17, 2024, planning to issue a total of $2 billion secured convertible bonds with an annual interest rate of 1% and due in 2029. At the same time, on June 18, 2024, the company also entered into a placement agreement with a placement agent, intending to place a maximum of 251,900,000 new H shares at a price of HKD 15.50 per share. The bonds can be converted into H shares at an initial conversion price of HKD 19.84 per share, with a premium of approximately 21.57% over the closing price on June 17, 2024. The bonds and conversion shares will apply for listing on the Hong Kong Stock Exchange. After completing the bond subscription, net proceeds of approximately $197.9 million are expected to be raised, which will be used for offshore debt refinancing. Net proceeds from the placement of approximately HKD 387.1 million will be used for overseas business operations and development. The issuance of the bonds and the placement of new H shares are carried out under a general authorization and do not require further approval from shareholders.