China Hongqiao cuts conversion price on US$300 million 1.50% 2030 convertible bonds to HK$18.44

Bulletin Express06-02 16:44

Hong Kong–listed aluminium producer China Hongqiao Group Limited announced an automatic downward adjustment to the conversion price of its outstanding US$300.00 million 1.50% convertible bonds due 2030, triggered by the board-declared dividend.

Effective 3 June 2026—the first business day after the 2 June 2026 dividend record date—the conversion price will be lowered from HK$19.36 to HK$18.44 per share in accordance with the bond terms, which require a recalibration when a “Capital Distribution” occurs.

The change increases the maximum number of shares issuable on full conversion by 6.01 million to 126.44 million. As of the announcement date, China Hongqiao had 9.82 billion shares outstanding. The additional conversion shares will be issued under the general mandate granted at the company’s 19 May 2026 annual general meeting.

All other terms of the 2025 convertible bonds remain unchanged. Bondholders uncertain about the implications are advised to consult professional advisers.

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