China Hongqiao increases shares through bond conversions, buys back stock

China Hongqiao Group Limited increased its total issued shares to 9.62 billion by August 18, up from 9.49 billion at end-July, primarily through conversions of its 5.25% convertible bonds due 2026.

The company issued 122.6 million new shares at HK$5.68 per share across multiple conversion dates in early August.

Simultaneously, China Hongqiao repurchased 10.2 million shares for HK$234.4 million on August 18, paying HK$22.1 to HK$23.24 per share. The buyback represents 0.11% of issued shares and falls within its authorized repurchase mandate of up to 936 million shares.