By Jennifer Chiou
New York, Oct. 4 - Vitop Bioenegery Holdings Ltd. priced HK$30 million of 3% convertible notes due in 18 months at par with an initial conversion premium of 20.77%, according to a news release.
The notes will be convertible at HK$0.25 per Vitop common share at anytime.
Proceeds will be used for general corporate purposes.
Vitop Bioenegery is a Zhuhai, China, manufacturer of multifunctional water generators, health care food products and other health care products.
| Issuer: | Vitop Bioenegery Holdings Ltd.
|
| Issue: | Convertible notes
|
| Amount: | HK$30 million
|
| Maturity: | 18 months
|
| Coupon: | 3%
|
| Price: | Par
|
| Conversion premium: | 20.77%
|
| Conversion price: | HK$0.25
|
| Pricing date: | Sept. 29
|
| Settlement date: | Oct. 13
|
| Stock reference price: | HK$0.2070 on Sept. 29
|
| Stock symbol: | Hong Kong: 1178
|
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