HONG KONG Oct 12 Haitong International
Securities Group Limited said on Wednesday that it has
sold HK$3.88 billion ($500.15 million) zero-coupon convertible
bonds, which were twice times oversubscribed, in the first such
bond sale from a Chinese brokerage in Hong Kong.
The initial conversion price of the bonds was HK$6.81 per
share, representing a premium of about 32 percent over the last
closing price of HK$5.16 per share on Oct. 11.
The bond offering was well received by institutional
investors and the orderbook amounted to three times of the
issuance volume, the firm said in a statement.
Proceeds of the bonds will be used to support the expansion
of its business operation, it added.
Haitong International Securities Group Ltd is a subsidiary
of Haitong International Holdings Ltd, a company incorporated in
Hong Kong in 2007 and wholly owned by Haitong Securities
($1 = 7.7576 Hong Kong dollars)
(Reporting by Michelle Chen; Editing by Shri Navaratnam)