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ZTE Lowers Convertible Bond Conversion Price Following Dividend

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ZTE (SHE:000063) lowered the conversion price of its 3.58-billion-yuan zero-coupon USD-settled H-share convertible bonds due 2030, following the distribution of its 2025 final dividend.

The conversion price per H share declines to HK$29.72 from HK$30.25, effective June 30, the day after the dividend record date.

The adjustment increases potential conversion shares by 2.3 million shares to 132.0 million shares, representing 17.48% of ZTE's H-share capital.

Shares of the telecommunications company rose 2% in recent trade.

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