Asia
Ahresty to Convert $33 Million Unit Loan into Equity via Debt-Equity Swap
Ahresty (TYO:5852) will convert $33 million of loans to its wholly owned US-based subsidiary, Ahresty Wilmington Corp., into equity through a debt-equity swap, according to a Monday filing on the Tokyo Stock Exchange.The Japan-based manufacturer said that following the transaction, it will retain 100% ownership in the unit, which will see a capital increase to $139.6 million from $106.6 million.The transaction is scheduled to be completed on Tuesday.
TYO:5852
