Cheery Plus Limited

Freeman (0279) renegotiates convertible bond held by Huarong Inv (2277)Huarong Inv announcement
Company announcement, 28-Sep-2018
The share price having boomed and then bust since the CB was issued, they have agreed to slash the conversion price from $0.425 to $0.065 and boost the coupon from 4% to 7%. As a result, Huarong Inv could end up with 29.63% of Freeman, which also has outstanding US$99m of convertible bonds held by Huarong Macau, a fellow subsidiary of China Huarong Asset Management (2799), also convertible at $0.425.
Freeman (0279) issues HK$437m convertible bond to Huarong Investment (2277)Huarong announcement
Company announcement, 24-Aug-2017
The bonds are secured on a 15% stake in Shenyang Securities Co Ltd (PRC). Huarong Investment is a subsidiary of China Huarong (2799). 2 months ago, China Huarong Macau, an unlisted fellow 51% subsidiary, subscribed US$100m for convertible bonds of Freeman.

Sign up for our free newsletter

Recommend Webb-site to a friend

Copyright & disclaimer, Privacy policy

Back to top