Vobile completes HK$155.8m zero coupon convertible bond issue

Vobile Group Limited (HKEX:3738) announced the completion of its issuance of HK$155.8 million zero coupon convertible bonds due 2028. Completion took place on May 30, 2025, following fulfillment of all conditions precedent under the subscription agreements. The net proceeds, estimated at HK$152 million, will be allocated with 75% earmarked for artificial intelligence generated content (AIGC) related business development and investment, and the remaining 25% for general working capital. Assuming full conversion at the initial price of HK$3.80 per share, Subscriber A will hold approximately 1.31% and Subscriber B 0.43% of the company. The conversion price is subject to adjustments for events such as share consolidations or rights issues. The investors are deemed third parties independent of the company.