JL Mag Rare-Earth Co (HKG:6680, SHE:300748) will reduce the conversion price of its 1.75% guaranteed convertible bonds due in 2030 to HK$20.54 per H share from HK$20.89, according to a Thursday filing with the Hong Kong bourse.
The adjustment follows shareholder approval of the company's 2026 interim profit distribution of 2.5 yuan per 10 shares.
The new conversion price will take effect on Oct. 8, the day after the record date for H-shareholders' dividend entitlement.
Assuming full conversion of the remaining bonds, the maximum number of H shares issuable will increase to 37.5 million from 36.9 million
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