Far East Horizon announces partial bond cancellation due to conversion

Far East Horizon (HKEX:3360) announced the partial cancellation of its USD300,000,000 2.50% guaranteed convertible bonds due 2025, following conversions from June 21, 2025. An aggregate principal amount of USD125,226,000, representing approximately 41.74% of the initial bond issue, was converted at a price of HKD5.19 per share, resulting in the issuance of 187,001,745 new shares. These shares represent approximately 4.30% of the company's total issued share capital as of May 31, 2025. Following this conversion, the remaining outstanding principal amount of the bonds is USD77,508,000, approximately 25.84% of the initial amount. The company stated it will issue further announcements for each subsequent 5% interval of bond conversions.