Crosstec (HKG:3893) said HIL converted all outstanding convertible bonds with a principal amount of HK$16.4 million into around 149.1 million new shares at a conversion price of HK$0.11 each, according to a Hong Kong bourse filing.
The conversion was completed on July 9, increasing HIL's stake in the company to 18.99% from 4.72%. Crosstec's total issued shares rose to 995.7 million following the conversion.
MKI remains the company's largest shareholder with a 24.58% stake after the conversion.
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