Sino-Ocean Group sees significant rise in shares from bond conversions

Sino-Ocean Group Holding Limited's monthly return for August 2025 shows a significant increase in issued ordinary shares. The total number of issued shares, excluding treasury shares, rose from 11,148,887,563 at the beginning of the month to 11,635,871,116 by month-end, reflecting an increase of 486,983,553 shares. The company confirmed it does not have an authorised share capital or par value for its shares.

This increase is primarily attributed to conversions from its zero-coupon mandatory convertible bonds (MCBs). Class A MCBs saw 369,430,088 new shares issued, Class B MCBs contributed 103,591,202 new shares, Class C MCBs added 13,188,220 new shares, and Class D MCBs generated 774,043 new shares during the month.

The conversion prices for the MCBs were subject to specific formulas based on 90-Trading Day-VWAP, with minimum conversion prices set at HK$1.55 for Class A, HK$5.74 for Class B, HK$17.26 for Class C, and HK$11.36 for Class D per share. All transactions were confirmed to be duly authorised and in compliance with listing rules and regulatory requirements.