Ganfeng Lithium to redeem HK$1.24bn in 2026 convertible bonds early

Ganfeng Lithium Group Co., Ltd. announced the early redemption of its 1.50% convertible bonds due 2026, originally issued for HK$1,370,000,000. As of the announcement date, HK$1,238,000,000, or 90.36% of the original principal amount, remains outstanding. The company issued a redemption notice on November 6, 2025, with the settlement and cancellation of the remaining bonds scheduled for December 18, 2025.

The redemption option was exercised because the H Share closing price met the specified condition of being at least 130% of the conversion price for 20 out of 30 consecutive business days. Bondholders wishing to convert must submit their notice by December 8, 2025, at a conversion price of HK$33.67 per Share. The current market price for H Shares is HK$50.80.

If all remaining convertible bonds are converted, it would result in 36,768,636 new H shares, representing approximately 8.22% of the total H shares and 1.78% of the total issued shares of the company.