Weimob (HK:2013) has released an update.
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Weimob Inc. has announced the proposed issue of US$90 million in Guaranteed Convertible Bonds due in 2029, with the bonds expected to be listed on the Hong Kong Stock Exchange. The initial conversion price is set at a premium over recent average share prices, with the potential to convert into a significant portion of the company’s enlarged share capital. The net proceeds from this issue, estimated at US$86 million after expenses, are intended to refinance existing debts.
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