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Dekon Food and Agriculture Completes $100 Million Convertible Bond Offering

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Dekon Food and Agriculture Group (HKG:2419) completed the issuance of $100 million zero-coupon convertible bonds due 2027 on Aug. 4, according to a same-day Hong Kong bourse filing.

The bonds were listed on the Vienna MTF operated by the Vienna Stock Exchange. The Hong Kong Stock Exchange also approved the listing of up to 14.5 million H shares issuable upon conversion at an initial conversion price of HK$54.08 per share.

The bonds were subscribed by three independent investors, Enhanced Investment Products, Nomura International and Oasis Investments II Master Fund.

Dekon plans to use the net proceeds to repay certain bank borrowings and fund purchases of feed, feed ingredients, veterinary medicines, vaccines and other production inputs.

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