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Anllian trims conversion price of €1 billion 0% bonds due 2025
By Mary-Katherine Stinson
Lexington, Ky., April 18 – Anllian Capital Ltd., a wholly owned subsidiary of ANTA Sports Products Ltd., will adjust the conversion price of its €1 billion zero-coupon guaranteed convertible bonds due 2025, according to a notice.
As a result of a new share issue, the conversion price will be adjusted to HK$101.46 from HK$101.90 effective from May 1, or the date of completion of the share issue provided it is no later than 14 days after the date of the placing and subscription agreement.
On April 17 the company announced it entered into a placing and subscription agreement to issue a total of 119 million new shares at HK$99.18 per subscription share. Under the new issue, the company will issue shares at a price per share which is less than 95% of the current market price.
The total number of the issued shares of the company is 2,713,623,500.
Following the adjustment, and assuming full conversion of the bonds, the bonds will be convertible into 85,221,762 conversion shares, representing 3.14% of the issued share capital of the company and 3.04% of the issued share capital of the company as enlarged by the issue of such conversion shares.
Additionally, the company has made an application to list an additional 367,984 conversion shares that may be issued on exercise of the bonds’ conversion rights.
Anllian Capital is based in Hong Kong.
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