On January 20, 2026, CMOC Group Limited (hereinafter referred to as "CMOC" or the "Company") announced the issuance of USD 1.2 billion zero-coupon guaranteed convertible bonds due 2027 under a general mandate. The issuance of these one-year convertible bonds was successfully completed. According to the Company's announcement, the initial conversion price was set at HKD 28.03 per H-share, representing a premium of approximately 28.70% over the closing price of HKD 21.78 per H-share on the trading date (January 19). The issuance was oversubscribed by nearly 10 times, achieving the highest conversion premium for a one-year convertible bond in the history of the Hong Kong stock market and the largest issuance size for a one-year convertible bond in the past five years. This result reflects strong investor confidence in CMOC's strategic direction and operational excellence.
CMOC is a dual-listed company (A+H shares) primarily engaged in the mining, ore processing, smelting, and processing of non-ferrous metals, as well as metal trading. With operations spanning Asia, Africa, South America, and Europe, the Company is a world-leading producer of copper, cobalt, molybdenum, tungsten, and niobium, a leading phosphate fertilizer producer in Brazil, and a top-tier global player in metal trading. As of June 2025, CMOC ranked 138th on the 2025 Fortune China 500 and 630th on the 2025 Forbes Global 2000. This issuance is expected to enhance working capital flexibility, reduce financing costs, and provide robust support for the Company's overall strategy. Upon conversion, it will further improve the liquidity of its H-shares.
As a long-term partner of CMOC for nearly two decades, Llinks acted as the PRC legal counsel to the issuer. Llinks was fully involved throughout the issuance process, providing comprehensive, professional, and high-quality "one-stop" legal services.
