MMG Maintains 12.85 Billion Issued Shares in September; Convertible Bonds Could Add 1.08 Billion Shares

Bulletin Express
Oct 05

MMG Limited filed its Monthly Return for Equity Issuer to Hong Kong Exchanges and Clearing Limited for the period ended 30 September 2026, confirming stability in its share capital structure and detailing outstanding convertible instruments.

Key Takeaways

1. Stable Share Capital • Issued ordinary shares remained unchanged at 12.85 billion. • MMG held no treasury shares at month-end, mirroring the prior month’s position. • No share repurchases, cancellations, or new issuances were recorded during September.

2. Public Float Compliance • The company affirmed compliance with the Main Board’s minimum public-float requirement of 25 percent for its ordinary shares.

3. Outstanding Convertible Bonds • US$500 million Zero Coupon Convertible Bonds due 2030 (listed, stock code 05959) carry a conversion price of HK$8.40 and could be exchanged for up to 463.11 million new shares. • US$800 million Zero Coupon Convertible Bonds due 2027 (unlisted) have a conversion price of HK$10.21 and permit conversion into up to 613.94 million new shares. • Combined, the two instruments represent potential issuance of approximately 1.08 billion shares—equivalent to about 8.4 percent of MMG’s current issued share base—should full conversion occur. • No conversions took place during the reporting month.

4. Absence of Other Dilutive Instruments • The company reported no outstanding share options, warrants, other equity-linked agreements, or additional treasury-share movements.

5. Regulatory Assurance • MMG confirmed that all statutory filings and listing rule obligations associated with its securities have been fulfilled.

The disclosure underscores MMG’s unchanged equity base while highlighting the latent dilution embedded in its outstanding zero-coupon convertible bonds.

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