Summary by Moomoo AI
MEITUNG AUTOMOBILES (STOCK CODE: 1268) ANNOUNCED THAT AS OF JANUARY 24, 2024, IT HAS REPURCHASED A TOTAL PRINCIPAL AMOUNT OF HK$3.15 BILLION OF ZERO-GUARANTEED CONVERTIBLE BONDS REPRESENTING APPROXIMATELY 11.45% OF THE INITIAL BOND PRINCIPAL AMOUNT. The lot is convertible into 7,037,816 convertible shares. The Board of Directors considers that this action will not have a material adverse effect on the Company's financial condition and has or will, as soon as possible, write off the repurchased Bonds. After the write-down, the total outstanding principal amount of the Notes will be HK$24.25 billion, representing approximately 88.18% of the principal amount of the Initial Issue Notes. The Company may or may not further repurchase the Notes. Investors should exercise caution when buying and selling company securities.