-- China Hongqiao Group (HKG:1378) completed the issue of zero-coupon convertible bonds maturing in 2027 to raise 10.2 billion yuan, according to a Tuesday Hong Kong bourse filing.
The firm will use proceeds to procure raw material, refinance existing debt, invest in overseas projects, and for future share repurchases and general corporate purposes.
On full conversion of the convertible bonds at HK$43.90 apiece, a little over 266.6 million shares of the firm will be issued.