Xelectron Technology (03800.HK) Terminates Issuance of Convertible Bonds Not Exceeding HK$1.17 Billion

NightAirdropper · 2026-03-20T15:06:50+00:00

Xingxin Technology announced the signing of a convertible bond subscription agreement with subscribers for a total issuance amount of HK$1.17 billion, with a conversion price of HK$1.60 per share, which will result in the issuance of 731,250,000 conversion shares. The proceeds will be used to invest in M&A funds. The agreement was terminated on March 19, 2026.

NightAirdropper

2026-03-20 15:06:50

Abstract generation in progress

Gelonghui, March 19 — GCL Technology (03800.HK) announced that on January 28, 2026, the company and the subscriber entered into a subscription agreement for the issuance of convertible bonds with a total principal amount of no more than HKD 1.17 billion. At a conversion price of HKD 1.60 per share (subject to adjustment), all convertible bonds will be converted into a total of 731,250,000 shares, representing approximately 2.20% of the company’s existing issued share capital and approximately 2.15% of the enlarged issued share capital after issuance of the converted shares. The shares will be issued and allotted under a general authorization. The total proceeds from the issuance of the convertible bonds will be approximately HKD 1.17 billion, which is intended to be invested in a merger and acquisition fund, with the fund’s general partner subject to approval by the company and the subscriber.

On March 19, 2026, the company and the subscriber mutually agreed to terminate the subscription agreement, originally set to expire on January 28, 2026.

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