6 stories mentioning HKG:2186
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Luye Pharma Group (HKG:2186) said its offer to buy back $180 million in previously issued convertible bonds was undersubscribed, according to a Thursday filing with the Hong Kong bourse.The firm received valid acceptances for $89.7 million of the notes, leaving $90.3 million of the 6.25% convertible bonds outstanding following the repurchase.
Luye Pharma (HKG:2186) completed a $180 million bond offering, according to a Thursday filing with the Hong Kong bourse.The debt was offered in the form of 5.25% convertible bonds due 2031, with funds intended for the repurchase of the company's outstanding $180 million 6.25% convertible bonds due 2028.The repurchase is yet to be completed, the firm said.
Hong Kong stocks extended losses Thursday as a flare-up in Middle East tensions hurt risk appetite.The Hang Seng Index fell by around 379.81 points, or roughly 1.5%, to end at 25,253.40, while the Hang Seng China Enterprises Index decreased by 94.68 points, or around 1.1%, to close at 8,501.91.Renewed hostilities between the US and Iran jolted investor confidence across Asian markets Thursday, Reuters reported. The overnight clashes, which involved Kuwait and Bahrain, mark the most significant escalation since a ceasefire took effect in early April and threaten to undermine ongoing US-Iran talks over extending the truce and reopening the Strait of Hormuz.Elsewhere, China slammed the U.S. for alleging the use of forced labor in the country as a pretext for additional tariffs."There is no such thing as 'forced labor' in China, and we oppose using this as a pretext for political manipulation," Beijing's Foreign Ministry Spokesperson Mao Ning said in a regular press briefing.The Office of the United States Trade Representative recently proposed additional taxes on imports from 60 regions, including China and Hong Kong, over forced-labor trade practices, calling for a 10% additional tariff for economies that have partially enforced bans on the importation of certain forced labor goods, and a 12.5% tariff for all others.In local development, Hong Kong's Exchange Fund is seeking investment managers for a mandate tied to the S&P 500 Index, Bloomberg News reported.The HK$4.3 trillion fund has been reviewing proposals in recent months and is looking for a low-tracking-error strategy that closely mirrors the benchmark's performance, according to the report.In corporate news, Luye Pharma (HKG:2186) proposed issuing $180 million of 5.25% convertible bonds due 2031 and concurrently repurchasing its outstanding $180 million 6.25% convertible bonds due 2028.The company's shares closed nearly 15% lower.
Luye Pharma (HKG:2186) proposed issuing $180 million of 5.25% convertible bonds due 2031 and concurrently repurchasing its outstanding $180 million 6.25% convertible bonds due 2028, according to a Thursday Hong Kong bourse filing.The pharma company said bondholders have already committed to sell about $89.7 million principal amount of the 2028 bonds, leaving about $90.3 million outstanding.The new bonds carry an initial conversion price of HK$2.71 per share, a 24.9% premium to the stock's last closing price. If fully converted, they would represent about 13% of the company's existing issued share capital.Net proceeds of about $177.2 million will be used to refinance existing debt, including the bond repurchase, and for general corporate purposes.The company intends to list the bonds on the Vienna Stock Exchange and will seek approval from the Hong Kong Stock Exchange for the listing of the conversion shares.
Luye Pharma (HKG:2186) enrolled the first subject in a US pharmacokinetic (PK) clinical trial of its LY03015, according to a Monday Hong Kong bourse filing.The drug is intended to treat tardive dyskinesia and Huntington's disease.
Luye Pharma (HKG:2186) said it enrolled the first patient in a Phase 2 clinical trial in China for its investigational drug LY03017, according to a Wednesday Hong Kong bourse filing.Shares of the pharma company fell over 2% in late-morning trade Thursday.The drug is being tested for the treatment of psychosis associated with Alzheimer's disease.