JL Mag Rare-Earth Revises Convertible Bond Terms

MT Newswires Live10-28

JL Mag Rare-Earth (HKG:6680, SHE:300748) said the conversion price of its $117.5 million 1.75% guaranteed convertible bonds due 2030 will be adjusted to HK$21.15 per H share from HK$21.38, effective Nov. 7, according to a Monday Hong Kong bourse filing.

Hong Kong-listed shares of the firm were down more than 2% in Tuesday afternoon trade.

The adjustment follows shareholder approval of an interim dividend of 1.8 yuan for every 10 shares for the six months ended June 30.

JL Mag said the additional 469,149 H shares that may result from the price adjustment will be allotted and issued under its new general mandate approved at the extraordinary general meeting.

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