Asia
Xinhua News Media to Settle HK$5 Million Debt via Share Subscription
Xinhua News Media (HKG:0309) plans to settle about HK$5 million of debt through a subscription of new shares under its general mandate, according to a Thursday Hong Kong bourse filing.The company agreed to issue 153 million subscription shares to independent third-party subscriber Yu Huilin at about HK$0.033 each.The subscription amount will be satisfied by offsetting principal and interest owed by the company under a debt confirmation agreement, the filing said.The new shares represent about 7.9% of the company's existing issued share capital and about 7.3% of the enlarged share capital after completion.
HKG:0309
