BUZZ-<a href="https://laohu8.com/S/00136">China Ruyi</a> drops to seven-month low on $330 million convertible bonds dilution fears** Shares of China Ruyi Holdings 0136.HK fall 6.2% to HK$2.12, their lowest level since June 16
** Stock marks its biggest intraday pct drop since December 10, and is set for a second session of decline
** The content production and online streaming group plans to issue convertible bonds, due 2027, raising HK$2.574 billion ($330.12 million) for repayment of debt and to fund investments, acquisitions and operations, among others
** The bonds will be convertible into 989.999 million shares, or 5.56% of the enlarged share capital, and that triggers concern of dilution effect on shares
** YTD, stock down 1.4%, benchmark Hang Seng Index .HSI up 5.8%
($1 = 7.7971 Hong Kong dollars)
(Reporting by Donny Kwok)
((donny.kwok@thomsonreuters.com))
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