Asia
Shanghai Refire Group to Issue Share Warrants to Australia's Macquarie Bank
Shanghai Refire Group (HKG:2570) agreed to sell 10 million share warrants to Australia's Macquarie Bank, according to a Thursday filing with the Hong Kong bourse.The hydrogen fuel cell systems maker's shares gained nearly 5% in morning trade Friday.The warrants may be exercised for an equal number of Refire Group shares at 93% of the stock's volume-weighted average price on the trading day before exercise, subject to a floor of HK$27.29 per share.Refire Group has the right to require Macquarie Bank to exercise at least 3 million warrants, provided it gives advance notice.The warrant issue is subject to shareholder approval.
HKG:2570
