---
title: "Man Sang International Plans Capital Reorganisation and HK$594 Million Connected Convertible Bond Issue"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/280488776.md"
description: "Man Sang International (HK:0938) has announced a capital reorganisation to reduce the par value of its shares from HK$0.50 to HK$0.10 and subdivide unissued shares. The company plans to issue HK$594.26 million in 2% convertible bonds maturing in 2029, which may dilute existing holdings but strengthen its funding base. This transaction is classified as connected due to involvement from controlling shareholder Mr. Hu, requiring independent shareholder approval. The latest analyst rating for the stock is a Hold with a price target of HK$0.37."
datetime: "2026-03-25T14:11:13.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/280488776.md)
  - [en](https://longbridge.com/en/news/280488776.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/280488776.md)
---

# Man Sang International Plans Capital Reorganisation and HK$594 Million Connected Convertible Bond Issue

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Man Sang International ( (HK:0938) ) just unveiled an announcement.

Man Sang International has proposed a capital reorganisation that will reduce the par value of its existing shares from HK$0.50 to HK$0.10 and subdivide authorised but unissued shares, aligning all new shares to rank equally. The move is designed to rationalise the company’s capital structure and facilitate subsequent financing activities.

The company has also agreed to issue HK$594.26 million of 2% convertible bonds maturing in 2029, which could convert into up to about 1.49 billion new shares, significantly diluting existing holdings but strengthening its funding base. As the bonds are being subscribed for by entities connected to controlling shareholder Mr. Hu, the deal is classified as a connected transaction, requiring independent shareholders’ approval and review by an independent board committee and financial adviser, highlighting governance safeguards for minority investors.

The most recent analyst rating on (HK:0938) stock is a Hold with a HK$0.37 price target. To see the full list of analyst forecasts on Man Sang International stock, see the HK:0938 Stock Forecast page.

**More about Man Sang International**

Man Sang International Limited is a Bermuda-incorporated company listed in Hong Kong, with a controlling shareholder, China DaDi, holding a majority stake. The company operates under the oversight of an executive director, Mr. Hu, who controls key subscribing entities in the latest financing transaction, underscoring a highly concentrated ownership structure.

**Average Trading Volume:** 1,144,183

**Technical Sentiment Signal:** Sell

**Current Market Cap:** HK$249.2M

For a thorough assessment of 0938 stock, go to TipRanks’ Stock Analysis page.

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