Wanguo Gold Group (HKG:3939) plans to raise HK$5.50 billion through the issuance of 0.75% convertible bonds due in 2027, according to a Tuesday filing with the Hong Kong bourse.
UBS AG Hong Kong Branch will act as the manager, subscribing to or procuring subscriptions for the bonds at par value. The bonds will be issued with a minimum denomination of HK$2 million each.
The convertible bonds carry an initial conversion price of HK$15.62 per share. If the bonds are fully converted at this initial price, Wanguo Gold would issue 352 million new shares, representing about 8% of the company's current issued share capital and 7.4% of its enlarged capital base.
The company plans to list the bonds on the Vienna MTF, and to list the new shares on conversion on the Hong Kong bourse.