Ganfeng Lithium Group (HKG:1772) said it was seeking over HK$2.5 billion via the sale of equity and debt, according to a Hong Kong bourse filing Tuesday.
The lithium company plans to sell 40,025,600 H Shares at HK$29.28 apiece to raise HK$1.17 billion for the potential repayment of debt and expand the business.
The shares represent 9.92% of the company's existing H Shares in issue, and 9.02% on an enlarged basis.
The company also plans to issue HK$1.37 billion worth of debt in the form of 1.50% convertible bonds due Aug. 31, 2026.
The bonds will have an initial conversion rate of HK$33.67 per H Share.
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