Far East Horizon Announces Partial Bond Conversion and Share Issuance

Far East Horizon Limited ( (HK:3360) ) has issued an announcement.

Far East Horizon Limited has announced a partial cancellation of its U.S.$300 million 2.50% guaranteed convertible bonds due 2025, following conversions amounting to approximately U.S.$20.9 million. This conversion resulted in the issuance of 31,217,730 new shares, representing about 0.72% of the company’s total issued share capital. The remaining outstanding bonds total U.S.$245.1 million, which, if fully converted, could increase the company’s share capital by approximately 8.42%. This move reflects the company’s ongoing financial strategy and its impact on shareholder value and market positioning.

The most recent analyst rating on (HK:3360) stock is a Buy with a HK$8.70 price target. To see the full list of analyst forecasts on Far East Horizon Limited stock, see the HK:3360 Stock Forecast page.

More about Far East Horizon Limited

Far East Horizon Limited operates in the financial services industry, focusing on providing leasing and financial solutions. The company is known for its comprehensive services that cater to various sectors, including healthcare, infrastructure, and construction, primarily in the Asian market.

Average Trading Volume: 8,853,788

Technical Sentiment Signal: Strong Buy

Current Market Cap: HK$26.14B

See more insights into 3360 stock on TipRanks’ Stock Analysis page.