Crosstec (HKG:3893) converted HK$7.7 million of convertible bonds issued to Hexing Investment into 70 million shares at HK$0.11 apiece, according to a Friday Hong Kong bourse filing.
The conversion shares represent around 19.09% of the firm's enlarged issued share capital. The interior design company now has over 366.6 million shares in issue.
Following conversion, MK Investment Group remains the largest shareholder of the company, holding 84.7 million, or 23.1%, shares.
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