Weimob redeems all 1.5% convertibles due 2025 in put exercise

By Mary-Katherine Stinson

Lexington, Ky., May 16 – Weimob Inc. completed the redemption of its original $150 million of 1.5% guaranteed convertible bonds due 2025 issued by wholly owned subsidiary Weimob Investment Ltd. through the exercise of a put option, according to a notice.

Accrued interest was also paid.

The notes were settled in cash totaling $18,809,790 on the put option date of May 15.

The redemption was funded by the group’s internal resources.

The bonds have been canceled, and none are outstanding.

The bonds are expected to be withdrawn from the Hong Kong Exchange on May 24. They were originally issued May 6, 2020.

According to the notice, Weimob’s directors said the early redemption could improve the company’s gearing ratio and optimize the corporate capital structure.

Weimob is a Shanghai-based cloud-based commerce and marketing solutions provider.

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