China Success Finance to Subscribe for $4 Million Three-Year Bonds

MT Newswires Live
05 May

China Success Finance Group (HKG:3623) agreed to subscribe for $4 million of a three-year exchangeable bond issued by Rakesh Rajagopal and carrying a 16% coupon rate, a May 2 filing with the Hong Kong bourse said.

Upon exercise of the exchangeable rights under the exchangeable bond in full, the bond will be exchanged into 1% of the total issued share capital of Coin Cove, which is 80%-owned by the issuer.

$1 million of the consideration for the subscription will be fulfilled from the proceeds of a share placement. The firm entered into an agreement to place up to 77 million shares at HK$0.7 apiece on the same day.

The remaining consideration will be satisfied through the allotment and issue of 33,428,000 shares in the company to the issuer at HK$0.7 apiece.

The consideration shares represent approximately 5.71% of the financial services provider's enlarged issued share capital.

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.

Most Discussed

  1. 1
     
     
     
     
  2. 2
     
     
     
     
  3. 3
     
     
     
     
  4. 4
     
     
     
     
  5. 5
     
     
     
     
  6. 6
     
     
     
     
  7. 7
     
     
     
     
  8. 8
     
     
     
     
  9. 9
     
     
     
     
  10. 10