Pharmaron agrees to issue RMB2,180 million convertible bonds

Pharmaron Beijing Co., Ltd. said that on August 26, 2026, after trading hours, it signed a subscription agreement to issue convertible bonds in an aggregate principal amount of RMB2,180 million. The Manager ran a book-building exercise, after which the principal amount and the initial conversion price were fixed. The Manager is The Hongkong and Shanghai Banking Corporation Limited, sole global coordinator, lead manager and bookrunner, which acts as underwriter of the issue.

The bonds convert into H shares at an initial conversion price of HK$36.08 per H share, subject to adjustments. That price is a premium of approximately 16.76% to the closing price of HK$30.90 per H share on August 26, 2026, the Last Trading Day. It is a premium of approximately 11.41% to the average closing price of HK$32.38 over the last five trading days before that day, and approximately 14.97% to the average closing price of HK$31.38 over the last ten trading days.

Conversion may take place in the circumstances set out in the terms and conditions of the bonds. The bonds are zero coupon, settled in US dollars, and mature in about one year. The announcement says most net proceeds will support business expansion, with the rest for refinancing existing debt and general corporate purposes.

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