DTXS Silk Road Seeks HK$323 Million via Debt Offering; Shares Up 4%

MT Newswires Live
Yesterday

DTXS Silk Road Investment Holdings (HKG:0620) looks to raise HK$323 million via a debt offering, according to a Hong Kong bourse filing Friday.

Shares of the arts and cultural firm gained over 4% in morning trade Monday.

The company plans to issue 3.85% convertible bonds due 2028 that can be converted into shares of the company at an initial price of HK$0.95 apiece.

The bonds will convert into an aggregate 340 million shares if fully converted, representing 42.45% of the company's existing issued share capital and 29.80% as enlarged by the issue.

The debt offering is subject to shareholder approval.

Proceeds will primarily be used for project renovation and development of properties, the firm said.

DTXS has appointed Cheong Lee Securities and Opus Capital as the placing agents for the offering.

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