CROSSTEC completes HK$6.50 million CB conversion; issues 59.09 million new shares, MKI stake climbs to 28.80%

Bulletin Express07-20

CROSSTEC Group Holdings Limited announced the full conversion of the remaining HK$6.50 million principal amount of convertible bonds (CB) held by major shareholder MKI. At the fixed conversion price of HK$0.11 per share, 59.09 million new shares were allotted on 20 July 2026, marking the final tranche of conversions linked to the CB programme first completed in September 2025.

The issuance lifts CROSSTEC’s total shares in issue to 1.05 billion from 995.71 million, an increase of 5.93% relative to the pre-conversion base. The newly issued shares represent 5.60% of the enlarged share capital.

Post-conversion, MKI’s shareholding rises to 303.79 million shares, translating into a 28.80% stake, up from 24.58% previously. HIL remains unchanged at 189.09 million shares, equating to 17.93% of the expanded register. The public float now accounts for 53.27% with 561.92 million shares.

With this transaction, all MKI-held convertible bonds have been fully converted, eliminating the company’s outstanding CB exposure linked to MKI.

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