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Zijin Mining Lowers Convertible Bond Conversion Price After Dividend Approval

Tipranks - Tipranks - Sat Jun 13, 4:12AM CDT

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Zijin Mining Group Co ( (HK:2899) ) has provided an announcement.

Zijin Mining Group Co., Ltd. and its Hong Kong-incorporated issuer Gold Pole Capital Company Limited announced an adjustment to the conversion price of their US$2 billion 1.0% guaranteed convertible bonds due 2029. Following shareholder approval of a 2025 profit distribution plan, the conversion price will be reduced from HK$19.17 to HK$18.97 per H share, effective 17 June 2026, while all other bond terms remain unchanged.

The lower conversion price, triggered by the declaration of a final cash dividend of RMB3.8 per 10 shares for 2025, increases the number of H shares issuable upon full conversion from about 814.7 million to approximately 823.3 million. This adjustment slightly raises the potential dilution for existing shareholders but aligns with standard bond terms, and the board has advised investors and shareholders to exercise caution when trading the company’s securities amid these changes.

The most recent analyst rating on (HK:2899) stock is a Buy
with a HK$55.00 price target.
To see the full list of analyst forecasts on Zijin Mining Group Co stock,
see the HK:2899 Stock Forecast page.

More about Zijin Mining Group Co

Zijin Mining Group Co., Ltd. is a PRC-based joint stock limited company focused on the mining and production of minerals, with its shares listed in both A share and H share markets. The company has a substantial share base comprising over 26.5 billion issued shares, including both A Shares and H Shares, and utilizes convertible bond financing to support its capital and operational needs.

Average Trading Volume: 66,480,772

Technical Sentiment Signal: Buy

Current Market Cap: HK$822.3B

Learn more about 2899 stock on TipRanks’ Stock Analysis page.

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