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Bonds

Conversion date reached

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SCMP Reporter

CONVERSION of the Swiss-denominated convertible bonds of China Textile Machinery Stock into new B shares was authorised to begin yesterday, with the conversion price set at 43 US cents.

The B shares closed yesterday at 35 cents.

Up to 54.26 million B shares can be transferred, representing 17.9 per cent of the firm's enlarged share capital.

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