Wai Chun Bio-Technology (HKG:0660) plans to reduce its issued share capital by canceling its paid-up capital, according to a Friday filing with the Hong Kong Stock Exchange.
The cancellation involves reducing the par value of the modified starch and other biochemical product company's issued common shares to HK$0.01 each from HK$0.25.
After the capital reduction, the company will subdivide its unissued shares with a par value of HK$0.25 each into 25 new common shares with a par value of HK$0.01 each.
The company also agreed with bondholders to amend the terms of its existing convertible bonds, including changing the conversion price to HK$0.06 per conversion share from HK$0.25 as well as extending their maturity dates.
Price (HKD): $0.07, Change: $+0.0010, Percent Change: +1.56%
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.