Silkwave (HKG:0471) said the conversion price of its convertible bonds will be adjusted to HK$7 per consolidated share from Thursday from the previous HK$0.35 per existing share, a same-day filing with the Hong Kong Exchange said.
The complete conversion of the convertible bonds with an outstanding principal amount of $12 million as of the date of the filing, will yield 266,742,857 existing shares at the previous conversion price and 13,337,142 consolidated shares at the adjusted conversion price.
The satellite infotainment multimedia technology and services company's shares closed nearly 14% lower on Thursday.
Price (HKD): $0.04, Change: $-0.0060, Percent Change: -13.64%
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.