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WEIMOB INC Once Slumps ~17% after Discounted Shr Placement
Recommend 42 Positive 71 Negative 49 |
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WEIMOB INC (02013.HK) opened 11.8% lower at $1.2 today (19th), and once slumped 16.9% to a low of $1.13 in the morning session. The stock last printed at $1.17, down 13.97%, with 25.948 million shares traded, involving $30.1963 million. The Company intended to place 277 million new shares, equivalent to about 9% of the issued share capital of the company as enlarged by the placing. The price was $1.13 per share, a 16.9% discount to yesterday's (18 Apr) closing price of $1.36. The net proceeds from the placing is expected to be around $308 million. The company intended to apply the net proceeds to be received by it for refinancing of existing indebtedness. In addition, the Company proposed to repurchase the US$300 Million Zero Coupon Guaranteed Convertible Bonds Due 2026, up to the outstanding aggregate principal amount of US$201 million. The repurchase price represents US$1,030.4 per US$1,000 in principal amount of the remaining convertible bonds on the closing date. AAStocks Financial News |
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