Value Convergence to Raise HK$5 Million from Convertible Bond Issue

MT Newswires Live
16 Jun

Value Convergence Holdings (HKG:0821) said it will raise HK$5 million through two convertible bond subscriptions under its general mandate, according to a June 13 Hong Kong bourse filing.

It also signed a memorandum of understanding with Monochrome Corporation to explore fintech and crypto-related investments.

The first bond, worth HK$3 million, was subscribed by Monochrome, while the second, worth HK$2 million, was subscribed by CJEF Capital Partners. The bonds carry a 1% annual coupon and a two-year maturity, with a conversion price of HK$0.04 per share, according to the filing.

The firm will use proceeds to repay liabilities and for general working capital, including rent and salaries.

Shares of the finance firm closed 3% lower on Monday.

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