China Hongqiao adjusts convertible bond conversion prices

China Hongqiao Group Limited (HKEX: 1378) announced adjustments to the conversion prices of its outstanding convertible bonds. The conversion price for the US$300 million 5.25% convertible bonds due 2026 will decrease from HK$6.14 per share to HK$5.68 per share, effective May 30, 2025. This adjustment will increase the number of conversion shares issuable by 30,678,362, bringing the total to 409,489,436 shares upon full conversion. Similarly, the conversion price for the US$300 million 1.50% convertible bonds due 2030 will be adjusted from HK$20.88 per share to HK$19.36 per share, effective the same date, increasing the number of conversion shares by 8,767,105, for a total of 120,432,334 shares upon full conversion. These adjustments are a result of the declaration of a final dividend for 2024 and are in accordance with the terms and conditions of the respective convertible bonds.