Zijin Mining Group Co (HK:2899) has released an update.
Zijin Mining Group Co., Ltd. announces the proposed issue of $2 billion in Guaranteed Convertible Bonds due 2029 and the placement of new H shares, both under the general mandate. The bonds, with an initial conversion price of HK$19.84 per share, are expected to convert into approximately 787 million H shares, which is roughly 13.72% of the existing issued H shares. The net proceeds of approximately $1.979 billion from the subscription are intended for uses detailed by the company, without requiring further shareholder approval.
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