Summary by Futu AI
Weimob Inc. completed the issuance of $90 million convertible bonds on September 5, 2024 and is expected to be listed on the Hong Kong Stock Exchange on September 6, 2024. The issuance conditions of the bonds have been fully met, and they have been subscribed by at least six independent underwriters. The company obtained a net profit of approximately $86 million through this bond issuance, which is planned to be used for refinancing existing debts. In addition, the company has completed the repurchase of SG convertible bonds. According to the announcement, assuming that all the 2024 convertible bonds are converted into new shares, the company's equity structure will change, and the proportion of shares held by public shareholders will increase to 14.98%, while the proportion of shares held by the major shareholder group will decrease accordingly. The board of directors of the company ensures that the public shareholding after conversion will not be lower than the minimum percentage required by the listing rules.