Anta Sports adjusts convertible bond price after dividend approval

Anta Sports Products Limited (HKEX:2020) announced an adjustment to the conversion price of its EUR1,500,000,000 zero coupon guaranteed convertible bonds due 2029, effective May 14, 2025. The adjustment, reducing the price from HKD104.02 to HKD102.62, follows the approval of a final dividend of HKD0.118 per share for the year ended December 31, 2024, at the company's annual general meeting held on May 7, 2025. The dividend falls within the definition of "Distributions" as defined in the bond terms. Following the adjustment, the bonds will be convertible into 119,188,755 shares. It also reported the voting results of this meeting, where all proposed resolutions, including the approval of the dividend and the re-election of directors, were duly passed. The company has applied to the Stock Exchange for the listing of the additional 1,604,156 Conversion Shares which may be issued upon exercise of the conversion rights attached to the Bonds.