Concord Healthcare Completes HK$68 Million Convertible Bond Issue to CSPC Pharma Unit

MT Newswires Live05-14

Concord Healthcare (HKG:2453) completed the issuance of HK$68 million convertible bonds to a unit of CSPC Pharmaceutical (HKG:1093), according to a Wednesday Hong Kong bourse filing.

Shares of the medical services firm were down over 2% in Thursday morning trade.

The company issued the 2% convertible bonds due April 2027 to Dragon Merit after all conditions under the placing and subscription agreement were fulfilled.

The bonds are convertible into as much as 40 million Hong Kong-listed shares at an initial conversion price of HK$1.70 per share.

Concord Healthcare previously said net proceeds of about HK$63.1 million would mainly be used to repay loans and supplement working capital.

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