WellNet to buyback US$3.4mln convertible bonds with investment of US$5mln

WellNet Holdings (0024) announced that the company issued US$4mln convertible bonds to Strong River and First Investor in November 2000, US$600,000 of which has been converted into new shares. The company will lay out US$5mln to buyback the rest convertible bonds valued at US$3.4mln by the end of August in three installments. In another word, with convertible bonds in hand for only nine months, holders will see a capital increase of 47%.

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