Summary by Moomoo AI
Micro-Union Group (stock code: 2013) announced that it will repurchase $300 million of zero-interest guaranteed convertible debt maturing in 2026 and signed an agreement with transaction operator Merrill Lynch (Asia Pacific) Limited on April 18, 2024. In addition, the Company also plans to sell 277,000,000 new shares under the General Mandate at a price of HK$1.13 per share, representing a discount of approximately 16.9% from the market price on 18 April 2024. The net proceeds from the divestiture of approximately HK$308 million will be used to refinance existing debt. Once the divestiture is completed, it is expected to expand the company's shareholder base and optimize its capital structure. The distribution of shares will be completed on April 26, 2024 or another time as agreed in writing by the Company with the exclusive distribution agent. This transaction helps to improve the financial position of Microalliance Group and provides funding for long-term business expansion.