Hansoh Pharmaceutical receives over $590 million in put convertibles

By William Gullotti

Buffalo, N.Y., Jan. 22 – Hansoh Pharmaceutical Group Co. Ltd. redeemed $590,622,000 of its $600 million 0% five-year convertibles due to holders exercising a scheduled put option, according to a notice on Monday.

The redemption accounts for 99.1% of the outstanding convertibles as of Jan. 22, will be consummated on Jan. 22 at par and will be satisfied by internal sources of the company.

Following redemption and cancellation, $5,378,000 of the convertibles will remain outstanding.

The maximum number of shares issuable upon full conversion of the outstanding bonds is 702,765, based on a conversion price of HK$59.33 per share and a fixed exchange rate of HK$7.7529 per dollar, which represents approximately 0.012% of the issued shares on Monday.

The convertibles were issued in 2021 at a conversion price of HK$60.

Hansoh Pharmaceutical Group is a Hong Kong-based pharmaceutical company.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.