Lingbao Gold Seeks HK$1.17 Billion via Debt Offering

MT Newswires Live11-25

Lingbao Gold Group (HKG:3330) plans to raise around HK$1.17 billion via a short-term debt offering, according to a Hong Kong bourse filing Tuesday.

The gold miner plans to issue zero-coupon bonds that convert into shares of the company at an initial rate of HK$17.83 per H share and mature on Nov. 29, 2026.

A total of 65.4 million H shares will be issued if the bonds are fully converted at the initial rate, representing 5.92% of the company's existing issued H share capital and 5.08% of its total share capital, or 5.58% of its H share capital and 4.84% of its total share capital as enlarged by the issue.

Funds raised will be used for the purchase of gold mining assets, replenishing the company's working capital, and refinancing existing debt, the firm said.

The bonds are intended to be listed on the Vienna Stock Exchange.

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