Sky Light Holdings (HKG:3882) is targeting to raise a maximum of HK$70 million via a convertible bond placement, according to a Monday filing with the Hong Kong Exchange.
The bonds, to be placed by Funderstone Securities on a best-effort basis to at least six professional or institutional investors, will convert to 44.8 million shares at an initial price of HK$1.56.
Net proceeds of approximately HK$67.7 million will go toward general corporate purposes.
The conversion shares will be listed, though the bonds will not. No shareholder approval is needed, and completion is subject to customary regulatory approvals.
Shares of the consumer electronics company were up almost 5% in recent trade.
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