Hansoh Pharmaceutical to Raise HK$4.68 Billion via Zero-Coupon Convertible Bonds
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Hansoh Pharmaceutical Group Company Limited plans to raise HK$4.68 billion through the issuance of zero-coupon convertible bonds due 2033. The bonds, convertible into approximately 81.5 million shares at an initial price of HK$57.39 per share, will be offered to professional investors in Hong Kong and outside the U.S. The net proceeds will be used as specified by the company, but completion is subject to certain conditions. The latest analyst rating for the stock is a Buy with a price target of HK$48.20.
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