Lenovo Converts And Cancels 2029 Convertible Bonds In Full

Lenovo Group (00992) said all of its 2029 convertible bonds have been fully converted and cancelled. Between last Thursday and yesterday, convertible bonds with a principal amount of $29.675 million, or about 4.4% of the original principal, were converted at the current conversion price of HK$8.37 per share, according to ETNet. About 27.79 million conversion shares were issued and credited as fully paid, representing about 0.22% of the total shares in issue immediately after the conversion. Lenovo said there are no outstanding issued 2029 convertible bonds, and it has applied to the Hong Kong Stock Exchange to withdraw the listing of the bonds. The delisting is expected to take effect at the close of business next Tuesday.