SMM Flash News: JL MAG Rare-Earth Completes $117.5M H-Share Convertible Bond Issuance

Published: Aug 5, 2025 11:37

Save

[SMM Flash News: JL MAG Rare-Earth Successfully Completes $117.5 Million H-Share Convertible Bond Issuance] JL MAG Rare-Earth (300748.SZ/6680.HK) recently announced that its overseas wholly-owned subsidiary, JL MAG Rare-Earth Green Technology (Hong Kong) Co., Ltd., has successfully issued convertible corporate bonds with a total amount of $117.5 million, a maturity of five years, and a coupon rate of 1.75%. These bonds can be converted into the company's H-shares. This issuance marks another H-share financing activity following the company's placement of H-shares to its controlling shareholder and independent third parties, raising HK$210 million.
The initial conversion price of the convertible bonds has been set at HK$21.38 per H-share, representing a premium of approximately 10% compared to the trading day when the subscription agreement was signed (the day when the H-share closing price was HK$19.44). If all bonds are converted at the initial conversion price, approximately 43,141,406 H-shares will be generated, accounting for approximately 18.95% of the total issued H-share capital of the company at the time of signing the subscription agreement and 3.14% of the company's total issued share capital.
After deducting issuance expenses, the company expects to receive a net amount of approximately $115 million. This funding is planned to be used for repurchasing H-shares, supplementing working capital, repaying debts, and covering the company's daily operating expenses.

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM‘s internal database model. They are for reference only and do not constitute decision-making recommendations.

For any inquiries or to learn more information, please contact: lemonzhao@smm.cn

For more information on how to access our research reports, please contact:service.en@smm.cn

Related News

Feb 6, 2026 18:46

Frontier Secures $20 Million and Signs Rare Earth Offtake Agreement

Luxembourg-based Frontier Rare Earths today announced it successfully obtained a $20 million investment from South Africa's Industrial Development Corporation (IDS) and signed an offtake agreement with France's Carester. The company has now initiated the final feasibility study for its South African magnet-use rare earth and battery-grade manganese project. Frontier Rare Earths is currently advancing the development of the Zandkopsdrift project in South Africa. The project is expected to achieve an annual capacity of approximately 3,038 mt of Pr-Nd oxide, 114 mt of dysprosium oxide, and 25 mt of terbium oxide over the first 25 years.

Feb 6, 2026 18:46

Feb 6, 2026 18:43

US Provides $565 Million in Financing for Brazilian Rare Earth Project

Serra Verde, a Brazilian rare earth element producer, announced today that the US International Development Finance Corporation (DFC) offered it a financing package worth $565 million, which also includes an option for the US government to acquire a minority stake in the company. Serra Verde’s Pela Ema ionic clay deposit in Brazil is scheduled to begin commercial production in 2024, with an expected annual output of 5,000 mt of total rare earth oxides, including dysprosium, erbium, neodymium, and praseodymium. Serra Verde plans to use the funds to refinance existing loan facilities and expand production capacity. The project aims to increase total rare earth oxide production to 6,500 mt per year by 2027.

Feb 6, 2026 18:43

Feb 6, 2026 18:42

US DFC Offers $565M Financing to Brazilian Rare Earth Project

[SMM Flash: US Provides $565 Million in Financing for Brazilian Rare Earth Project] Serra Verde (a Brazilian rare earth element producer) announced today that the US International Development Finance Corporation (DFC) has provided it with a financing package worth $565 million, which also includes an option for the US government to acquire a minority stake in the company. Serra Verde's Pela Ema ionic clay deposit in Brazil is scheduled to commence commercial production in 2024, with an expected annual output of 5,000 mt of total rare earth oxides, including elements such as dysprosium, erbium, neodymium, and praseodymium. Serra Verde plans to use the funds to refinance existing loan facilities and expand production capacity. The project aims to increase the annual production of total rare earth oxides to 6,500 mt by 2027.

Feb 6, 2026 18:42