Zhitong Finance APP news, Luye Pharma (02186) announced that the company issued $0.1 billion 5.85% convertible bonds due in 2025 (Series A bonds). All prerequisites for the issuance of Series A bonds as stated in the Series A subscription agreement have been met, and the issuance of Series A bonds has been successfully completed. It is expected that the Series A bonds will be listed on the HKEX on November 1, 2024. The preliminary conversion price of the bonds is HK$3.672 per share.

The board of directors believes that issuing Series A bonds can improve the group's liquidity and replace some of the group's short-term loans. The board of directors believes that the net proceeds from the issuance of Series A bonds will reduce the group's cost of capital and improve the group's debt maturity profile.