Hansoh Pharmaceutical Group Raising HK$4.68 Billion Through Seven Year Convertible Bond Offering

Hansoh Pharmaceutical Group 3692.HK announced on Monday, January 26, 2026, that it is raising HK$4.68 billion (US$600 million) through a seven-year zero-coupon convertible bond offering. The bonds are Hong Kong HKdollar-denominated and are due in 2033. This major financing event follows an 11.5 percent year-to-date share price appreciation for the drugmaker, which is based in China CN.

The bonds are structured with a zero percent yield to maturity and include put options at par in the third and fifth years. A key component of the offering is the conversion premium, which is set at approximately 47 percent to 52 percent over the reference share price. The reference price will be determined by the clearing price of a concurrent delta placement. Morgan Stanley and Citigroup are serving as the joint global coordinators and joint bookrunners for the transaction, according to a term sheet seen by Reuters on Monday.