Momentum Financial Issues 377 Million New Shares on Bond Conversion; Shares Jump 6%
MT Newswires Live12-04
Momentum Financial (HKG:1152) issued 376.7 million new shares after several bondholders converted HK$27.5 million of the company's convertible bonds, according to a Wednesday Hong Kong bourse filing.
Shares of the company were up nearly 6% in Thursday morning trade.
The shares were allotted at HK$0.073 each under a specific mandate, raising the company's issued share capital to about 1.36 billion shares.
The conversion represented 38.36% of Momentum Financial's issued capital before the exercise and 27.73% of the enlarged share base.
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