Apollo Future Mobility (HKG:0860) raised HK$300 million by issuing convertible bonds to Ning Shing (Holdings), a Wednesday Hong Kong bourse filing said.
The company stands to issue up to 194.8 million conversion shares upon the full conversion of the bonds at the initial conversion price of HK$1.54 per share, representing 16.00% of the total number of enlarged issued shares of the company.
The net proceeds from the issue are HK$299.2 million, which the company plans to use for the research and development of hypercars and electric vehicles and general working capital.
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