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New Focus Auto (00360) intends to issue convertible bonds with a maximum principal amount of HKD 400 million. The annual interest rate of the bonds is 8%.
Zhī tōng cáijīng APP news, New Focus (00360) announced that on June 27, 2024, the company entered into a placement agreement with placement agents. According to the agreement, the company has appointed the placement agents to place a maximum of HKD 400 million convertible bonds to no less than 6 subscribers (including their ultimate beneficial owners, all of whom are independent third parties) based on best efforts. The bond has an annual interest rate of 8% and an initial conversion price of HKD 0.145 per conversion share, representing a premium of approximately 43.56% over the closing price of HKD 0.101 per share on that day. According to the initial conversion price of HKD 0.145 per conversion share, all convertible bonds can be fully exercised.
Express News | New Focus Auto Tech - to Place Convertible Bonds of up to HK$400 Mln
Express News | New Focus Auto Tech Holdings Ltd - Placing of Convertible Bonds Under General Mandate
Hong Kong stock market fluctuations | New Focus Auto (00360) fell by more than 20%. Last Tuesday, it plunged sharply in the last trading period. The company's equity is highly concentrated.
New Focus Auto (00360) fell more than 20%, as of press time, it fell 20.37%, with a price of HKD 0.043 and a turnover of HKD 16.0536 million.
Hong Kong stocks surge | New Focus Auto (00360) increased by more than 28%, with a sharp drop in Monday's closing, and the company's equity is highly concentrated.
According to the Smart Finance App, New Focus Auto (00360) rose more than 28% and closed up nearly 40% yesterday. As of the time of publication, it has risen by 23.08% to HKD 0.048, with a turnover of HKD 9.6382 million. In terms of news, New Focus Auto recently announced that its wholly-owned subsidiary, New Focus Optoelectronics, received a notice from the Office of Compensation for the Shanghai Qingpu Industrial Park's expropriation program. It involves industrial land and buildings not located in the Qingpu District of Shanghai that are held by New Focus Optoelectronics. A land expropriation agreement has not yet been signed by both parties. The company stated that it will make every effort to minimize the adverse effects of property expropriation on the normal operations of New Focus Optoelectronics.
New focus auto (00360): After a 74% plummet with heavy trading volume, can 'Old Blood' not bounce back?
With the performance of 'volume flash crash by 74%', New Focus Auto (00360) has obviously become the 'new focus' of the Hong Kong stock market. On June 3rd, the little-known New Focus Auto suddenly plunged in the afternoon, falling nearly 85% during the day, hitting a new low of HK$0.019. By the end of the day's trading, its share price still did not recover, plummeting by 74.40%, at HK$0.032. On the next day, June 4th, New Focus Auto once again experienced a roller coaster ride: the stock opened low with a drop of 12.5% in the morning session, and then the share price quickly turned red and rose to a high of HK$0.037, an increase of more than 15%.
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