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00881 ZHONGSHENG HLDG
RTNominal down9.040 -0.440 (-4.641%)
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12/10/2017 09:43

Zhongsheng (00881) to issue HK$2.35bn convertible bonds

[ET Net News Agency, 12 October 2017] Zhongsheng Group Holdings (00881) said it agreed
to issue zero coupon convertible bonds in aggregate principal amount of HK$2,350 million
due 2018.
The initial conversion price of HK$20.286 per share represents a premium of 15% to the
closing price of HK$17.64.
Assuming full conversion of the convertible bonds, the convertible bonds will be
convertible into about 116 million shares, representing around 4.86% of the enlarged
issued share capital of Zhongsheng.
The estimated net proceeds of about HK$2,300 million will be used for general corporate
purposes including but not limited to network expansion, working capital and potential
repayment of offshore debt. (HL)

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