TIBET WATER (01115) intends to issue up to HK$2.97 billion in convertible bonds.

TIBET WATER (01115) announced that on September 17, 2025, the company entered into a placement agreement with placement agents to sell up to HKD 297 million in convertible bonds. The initial conversion price is HKD 0.55, representing a premium of approximately 1.85% over the closing price of HKD 0.54 per share on the last trading day on the Stock Exchange of Hong Kong. The bonds have an annual interest rate of 5%. The net proceeds will be used for refinancing existing bonds and general operational funds. Assuming all the bonds are placed and converted at the initial conversion price of HKD 0.55, the bonds can be converted into 540 million shares, equivalent to approximately 11.49% of the company's current issued share capital and approximately 10.30% of the issued share capital after the conversion and increase in share capital.