Zoomlion Heavy Industry Science and Technology Co., Ltd. (Stock Code: 1157) announced an update regarding its proposed issuance of Convertible Bonds under a placing arrangement. According to the company, the aggregate principal amount of the proposed Convertible Bonds is up to RMB6 billion (approximately HK$6.58 billion), with an initial conversion price of HK$9.75 per H Share, subject to adjustments.
On 25 November 2025, Zoomlion entered into a Placing Agency Agreement with two placing agents. Under this agreement, the placing agents will use reasonable efforts to facilitate subscriptions from no fewer than six placees at an issue price of 100% of the aggregate principal. Completion of the placing is expected on or before the Closing Date, subject to meeting conditions precedent including the execution of the Subscription Agreement, delivery of required comfort letters, and receipt of approvals from China’s National Development and Reform Commission (NDRC) and other relevant authorities. If the conditions are not fulfilled or waived, the placing agents may terminate the agreement.
The company noted that no conditions precedent had been satisfied or waived as of the announcement date and that it is actively working toward meeting these requirements. A final Subscription Agreement will be executed following the bookbuilding process, which will finalize details such as the allocation of the Convertible Bonds and the roles of participating managers.
An extraordinary general meeting (EGM) and an H Shares Class Meeting are scheduled for 11 December 2025 to seek shareholders’ approval for the placement and the issuance of relevant shares under the Specific Mandate. The company has issued a circular containing further details on the Placing, the proposed Convertible Bonds, and meeting notices, dispatched on the same date as the announcement.
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