CONCORD HC GP Proposes to Issue HKD68 Million Convertible Bonds to CSPC PHARMA
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CONCORD HC GPannounced a proposal to issue HKD68 million in convertible bonds to a subsidiary of CSPC PHARMA. After expenses, net proceeds are expected to be around HKD63.1 million. Approximately 70% of the funds will be used to repay loans, while 30% will support working capital. The bonds will convert into 40 million H shares, equating to about 4.86% of the enlarged total issued shares.
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