Momentum Financial Issues New Shares Following Convertible Bond Conversion; Shares Jum 7%

MT Newswires Live01-12

Momentum Financial (HKG:1152) has issued 169.2 million new shares following the conversion of convertible bonds with an aggregate principal amount of HK$12.4 million, according to a Jan. 9 Hong Kong bourse filing.

Shares of the firm were up nearly 7% in Monday morning trade.

The bonds were converted by Rosy Benefit and Peng Chaohui at a conversion price of HK$0.073 per share.

Peng, who acquired part of the bonds from Rosy Benefit in December, is an independent third party, the company said.

The conversion shares were issued under a specific mandate and rank pari passu with existing shares. Following the allotment, the company's issued share capital increased to about 2.08 billion shares.

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