China Silver Technology Holdings (HKG:0515) entered into agreements to issue Convertible Bonds worth HK$16.07 million to subscribers under the general mandate, according to a Friday filing with the Hong Kong bourse.
The initial conversion price is HK$0.10 per share, which suggests that 160,659,678 new shares will be issued, representing 14.18% of the current share capital.
Net proceeds of HK$15.8 million will primarily repay borrowings and fund working capital.
The company's shares were up 14% at the end of trading.
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