China Travel Group cashes HK$328.7 mln by exercising convertible bonds and place

It was reported by sources that China Travel Group, the leading shareholder of China Travel International Investment (0308) would place 170 mln old shares of China Travel International and place 30 mln extra shares to cash HK$328.7 mln. The placing price had a 5% discount to the closing price of HK$1.73 before suspension.

The leading shareholders would exercise HK$600 mln convertible bonds at HK$1.13 each.

After exercising the convertible bonds and placement, the shareholding owned by China Travel Group would slightly increased from 60.2% to 60.5%.

The placement would be underwritten by BNP¡C

Related stock : (308)