On June 29, Mobvista (01860.HK) rose 5.2% in regular trading, trading at HK$10.53/share, with turnover of approximately HK$39.52 million.

On the news front, the company announced on June 28 that PAG AC III Munich Holding has fully converted its US$30 million convertible bond principal along with US$3.9175 million in accrued interest into approximately 47.46 million shares at a conversion price of HK$5.54 per share. Following this conversion, the company has no outstanding convertible bonds, effectively eliminating the potential dilution overhang that had weighed on investor sentiment.

The stock had previously declined over 30% from highs above HK$15, despite receiving multiple institutional buy ratings with target prices ranging from HK$17.7 to HK$18.55. With the convertible bond overhang now resolved and the company maintaining strong fundamental growth — Q1 revenue rose 32.2% year-on-year to US$581.3 million — the market appears to be pricing in an oversold rebound.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)