Interchina Holdings issues HK$200m convertible notes

Interchina Holdings (0202) announced that it issued HK$200 mln convertible notes to the independent third party Capital Champion Limited at HK$1 each. The convertible notes, due to be mature in three years and with an annual rate of 3%, will be converted into 200 mln new shares at a conversion price of HK$1. The batch of new shares accounts for 4.56% of the issued shares and 4.36% of the expanded stocks. Half of the net proceeds of HK$199.8 mln will be used for the expansion of current securities business, and the remainder will be injected in potential projects.

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