Parking space deal

PUBLISHED : Thursday, 18 April, 1996, 12:00am
UPDATED : Thursday, 18 April, 1996, 12:00am
 

AWT World Transport is diversifying into property with the purchase of 60 car parking spaces at Whampoa Garden from China Strategic Holdings in a deal worth $47 million.


Under the deal, AWT will issue to China Strategic an unsecured convertible note due in 1998 of which $40 million is convertible into AWT shares at an initial conversion price of 80 cents a share.


Assuming full conversion, China Strategic will hold 18 per cent of AWT's enrlarged share capital.


Share

 

Send to a friend

To forward this article using your default email client (e.g. Outlook), click here.

Parking space deal

Enter multiple addresses separated by commas(,)

For unlimited access to:

SCMP.com SCMP Tablet Edition SCMP Mobile Edition 10-year news archive