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2007-12-5 11:10:00 a.m. HKT, XFNA
Hong Kong-listed Kai Yuan to issue 140 mln hkd convertible bonds
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HONG KONG (XFN-ASIA) - Kai Yuan Holdings Ltd (1215.HK), formerly known as
Guo Xin Group Ltd, said it will sell 140 mn hkd of convertible bonds.
If the bonds are fully exercised at the initial conversion price of 0.13
hkd per share, the company would need to issue 1.08 bln shares, or 16.66 pct
of its enlarged issued share capital.
The company, which engages in property and resource investment, said it
will use the proceeds for future investment in its principal businesses.
At 10.58 am, Kai Yuan surged 0.047 hkd or 36.15 pct at 0.177.
(1 usd = 7.8 hkd)
roby.lau@xfn.com
xfnrl/xfjamesa
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