China Water Industry Plans HK$278 Million Convertible Bond Issue
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China Water Industry Group Limited (HK:1129) plans to issue convertible bonds worth up to HK$278.25 million, subject to shareholder approval. The bonds will be issued in five tranches with an initial conversion price of HK$0.308 per share, potentially leading to significant dilution of existing shares. The deal is contingent on regulatory and shareholder approvals. The latest analyst rating for the stock is a Hold with a price target of HK$0.31. The company focuses on water-related infrastructure and public utilities in mainland China.
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