China Nonferrous Mining slips on convertible bonds issue for Zambia project
27/08/2026 07:21
BUZZ-China Nonferrous Mining slips on convertible bonds issue for Zambia project ** Shares of China Nonferrous Mining Corp 1258.HK slip 5.8% to HK$16.2, on track for the biggest one-day pct drop since August 13
** The copper producer said on Thursday it would issue $300 million of U.S. dollar-denominated convertible bonds due 2031, raising proceeds to fund the construction of the sulfide ore resource development project in Luanshya, Zambia
** The bonds will be convertible into 106.04 million new shares, representing 2.65% of the enlarged share capital, at initial conversion price of HK$22.18 per share
** YTD, stock up 12.6%, while benchmark Hang Seng Index .HSI down 0.3%
(Reporting by Donny Kwok)
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