Warburg sold US$2.3m of Huiyuan bonds

PUBLISHED : Thursday, 11 June, 2009, 12:00am
UPDATED : Thursday, 11 June, 2009, 12:00am

China Huiyuan Juice Group says one of its pre-listing cornerstone investors, Warburg Pincus, has sold only US$2.3 million of its US$73.3 million worth of convertible bonds and not the whole amount, as had previously been reported. The bonds are due on June 28, 2011. The company also says chairman and controlling shareholder Zhu Xinli has no intention to reduce his stake. In March, Beijing blocked Coca-Cola's HK$19.65 billion takeover of the juice maker. Huiyuan's shares rose 1.01 per cent to HK$6.02 yesterday after falling 8.31 per cent on Tuesday.