Zhaojin Mining Group Co., Ltd. announced that it will issue $200 million convertible bonds with an annual interest rate of 1.0% on June 25, 2024, with a term until 2029. The bonds are unconditionally and irrevocably guaranteed by Zhaojin Mining and will be traded on the Hong Kong Stock Exchange for professional investors. The bonds pay interest every six months and can be converted into the company's H shares at an initial conversion price of HK$19.84 per share. In addition, the company has conducted a rights issue for a total of 251.9 million H shares, priced at HK$15.50 per share. To hedge market risks, management will conduct Delta distribution, which may facilitate the sale of existing H shares. The issuer and guarantor have agreed to...Show More

Zhaojin Mining Group Co., Ltd. announced that it will issue $200 million convertible bonds with an annual interest rate of 1.0% on June 25, 2024, with a term until 2029. The bonds are unconditionally and irrevocably guaranteed by Zhaojin Mining and will be traded on the Hong Kong Stock Exchange for professional investors. The bonds pay interest every six months and can be converted into the company's H shares at an initial conversion price of HK$19.84 per share. In addition, the company has conducted a rights issue for a total of 251.9 million H shares, priced at HK$15.50 per share. To hedge market risks, management will conduct Delta distribution, which may facilitate the sale of existing H shares. The issuer and guarantor have agreed to a 90-day lock-up period, with specific exceptions. The proceeds from this issuance will be used for the company's general corporate purposes. The bonds are governed by English law and represented globally by certificates deposited with Euroclear and Clearstream. The issuance is subject to certain sales restrictions, including in the United States and Hong Kong.