Ganfeng Lithium to redeem H-share convertible bonds, altering capital structure

Jiangxi Ganfeng Lithium Co., Ltd. announced progress on the conversion and early redemption of its H-share convertible company bonds. The company issued HK$1.37bn in H-share convertible bonds on September 2, 2025, with a conversion price of HK$33.67 per H-share. Following a redemption notice issued in November 2025, the company will redeem and cancel the remaining bonds on December 18, 2025.

As of the announcement date, bondholders have converted HK$1.33bn of the principal into 39,501,025 new H-shares. This conversion represents approximately 8.19% of the company's total issued H-shares and 1.88% of its total A+H share capital. The remaining principal of HK$40m will be redeemed at 100% on December 18, 2025, along with accrued interest.

Post-redemption, the company will apply to the Vienna Stock Exchange to delist the convertible bonds. This change will increase the total issued share capital from 2,057,193,379 shares to 2,096,694,404 shares, with H-shares now accounting for 23.04% of the total, up from 21.56%.