Changes in Hong Kong stocks | KFM Jinde (03816) resumed trading more than 14% and raised HK$360 million in convertible bonds to obtain a full purchase offer from Lixun Precision

The Zhitong Finance App learned that KFM Jinde (03816) resumed trading more than 14%. As of press release, it had risen 14.54% to HK$5.2, with a turnover of HK$540,800.

According to the news, KFM Kinder issued an announcement stating that it will issue convertible bonds with a capital amount of HK$360 million. When the share exchange rights are fully exercised at HK$2 per share, a total of 180 million shares will be issued, accounting for 30% of the issued share capital. The Group expects to use about 25% of the net proceeds from issuing convertible bonds to and expand manufacturing investment in Suzhou, China and Malaysia; about 50% for general working capital; and about 25% for bank loan repayment.

In addition, Hong Kong Lixun gave the company's controlling shareholder KIG Real Estate 342 million shares, equivalent to 57% of the issued share capital, at a total cost of HK$684 million, equivalent to HK$2 per share. After the transaction is completed, Hong Kong Lixun and those acting in concert will hold 57% of the shares and are required to make a mandatory comprehensive offer for all issued shares. The cash offer price is HK$2 per share. Hong Kong Lixun will not raise the offer price.