BRIEF: Kingsoft convertible bondholders exercise partial conversion

3888.HK
Baidu does infrastructure

Software developer Kingsoft Corp. Ltd. (3888.HK) said on Tuesday that holders of its maturing one-year convertible bonds exercised partial conversion rights to receive 10.12 million shares, representing about 0.75% of the company’s enlarged share capital and about 11.35% of the original principal amount of the bonds.

Kingsoft issued the HK$3.1 billion ($400 million) in bonds last April with a 0.625% coupon rate and adjusted conversion price of HK$34.77 per share.

Shares of Kingsoft opened down 3.4% at HK$ 35.70 on Wednesday. The shares are up nearly 50% over the past year.

By Lau Chi Hang

To subscribe to Bamboo Works weekly free newsletter, click here

,

Related Articles

RELATED ARTICLES

  1. consumers are Xiaomi's target
    BRIEF: Xtep to raise $130 million through share placement, convertible bond issue
    1368.HK
  2. CIFI restructuring advances as shareholders face massive dilution
    0884.HK
  3. Property crisis deepens with debt action against Sunac 
    1918.HK
  4. After a failed Fosun buyout, what’s next for drug maker Henlius Biotech?
    2696.HK
  5. VNET gets vote of confidence amid deepening AI focus
    VNET.US
  6. Lenovo’s AI seeds begin bearing fruit, as geopolitics continue to weigh
    0992.HK LNVGY.US
  7. NetClass offers lesson in diversity with globalization strategy
    NTCL.US
Discover hidden China stock gems in our weekly newsletter

Follow us

Facebook Twitter Linkedin Weixin Weibo Youtube

Subscribe to Our Free eNewsletter

Subscribe

Check out our content with some of our syndication partners

factiva

Recent Articles

Illustration of the rebound of Chinese fintech lenders

A fintech lender rebound, and a hotel mess

Fintech lenders are entering a new golden era, with Jiayin reporting 46% growth for its core consumer lending business in last year's fourth quarter and forecasting similar gains this year. What's driving this rebound? And hotelier H World is still trying to fix a German acquisition from 2019 that wiped out its profit in the fourth quarter of last year. Will the Chinese hotelier be able to turn around this money-losing offshore asset?
JFIN.US HTHT.US