Lenovo Group (HKG:0992) issued 45.6 million new shares under a partial conversion exercise for its 2.50% convertible bonds due 2029.

The Hong Kong-listed electronics company said Monday it converted and canceled $48.7 million of the bond at HK$8.37 per share.

As of the same day, the 2029 convertible bond has an outstanding amount of $117.4 million.