New Focus Auto Tech Extends Convertible Bond Placement

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Zhitong FinanceJul 7 23:09 ET

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.

Zhitong FinanceJun 27 08:12 ET

Express News | New Focus Auto Tech - to Place Convertible Bonds of up to HK$400 Mln

ReutersJun 27 08:09 ET

Express News | New Focus Auto Tech Holdings Ltd - Placing of Convertible Bonds Under General Mandate

ReutersJun 27 08:09 ET