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2007-8-1 06:25:00 p.m. HKT, XFNA
Hong Kong-listed China Water Industry seeks up to 385 mln hkd from bond issue
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HONG KONG (XFN-ASIA) - Hong Kong-listed China Water Industry Group Ltd
said it expects to raise 385 mln hkd from the issue of five-year convertible
bonds to fund its water supply projects in mainland China.
The company said in a statement that the bonds may be converted into
shares at an initial conversion price of 1.42 hkd per share, representing a
premium of 17.4 pct to the company's closing price of 1.21 hkd on July 25.
The company may issue up to 271.13 mln new company shares if the bonds
are fully converted. The shares represent 12.6 pct of China Water Industry's
issued share capital.
At today's close, the stock was down 0.08 hkd or 6.61 pct at 1.13.
(1 usd = 7.8 hkd)
leonora.walet@xfn.com
lw/kmq
xfnlwm/xfnkm
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