Sunpower (SGX:5GD) received an approval in principal from the Singapore Exchange Securities Trading for the listing and quotation of up to SG$99.6 million worth of 7% bonds, according to a filing with the Singapore Exchange on Wednesday.
The bonds are convertible into up to 398,438,568 shares.
Initially, the company said that the convertible bonds will not be listed and quoted on the SGX.
The company also confirmed that the anticipated net proceeds from the rights issue has decreased to SG$1.1 million from about SG$1.2 million.
Shares of the electronics company rose over 6% in recent trading.
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