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Hong Kong Stock Exchange

Hong Kong’s Hsin Chong Construction proposes US$100 million in convertible bonds

PUBLISHED : Wednesday, 04 November, 2015, 9:05am
UPDATED : Wednesday, 04 November, 2015, 9:05am

Hsin Chong Construction Group has proposed an issue of US$100 million in convertible bonds to refinance the company’s debts and use it as working capital.

The initial conversion price being HK$1.00 per share represents around a 10 per cent premium over the closing price of the shares as quoted on the Hong Kong Stock Exchange on the last trading date on November 3, according to the filings to the exchange on Wednesday.

Assuming full conversion of the convertible bonds, which will mature on November 24, 2017, the bonds represents about 14.94 per cent of the issued share capital of the company and about 13 per cent of the enlarged issued share capital.

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