Summary by Moomoo AI
Meidong Auto (stock code: 1268) announced that the conversion price of its 2.75 billion Hong Kong dollar zero-coupon convertible bonds due in 2027, issued by Sail Vantage Limited, has been adjusted. The adjustment increased the conversion price from HKD 44.7582 per share to HKD 44.1764 per share, representing a more than 1% increase, based on the company's previously announced interim and final dividends. The adjustment is effective from August 9, 2024. As of now, HKD 1.873 billion of convertible bonds remain outstanding. Following the adjustment, if all convertible bonds are converted, the maximum number of shares to be issued by the company will increase to 42,398,203 shares. The company will apply for additional conversion shares to be listed and traded on the Hong Kong Stock Exchange. The adjustment has been officially notified to bondholders.