MicroPort Scientific Corporation Plunges Over 7% on Announcement of $700 Million Zero-Coupon Convertible Bond Offering

MicroPort (00853) plans to issue 5-year convertible bonds to raise US$700 million. The stock opened down over 4% in early trading. As of press time, it has fallen 7%, trading at HK$65.7, with a turnover of HK$393 million.

On the news front, MicroPort announced the proposed issuance of zero-coupon convertible bonds maturing in 2026 with a principal amount of US$700 million. The initial conversion price is set at HK$92.8163 per share, with estimated net proceeds from the bond issuance amounting to approximately US$680 million. The Group intends to utilize the net proceeds for R&D investments, certain capital expenditures, and working capital purposes.

Responsible Editor: Lu Yujun