Gome buys back RMB 498.4 million 0% convertibles under new program

New York, Nov. 19 - Gome Electrical Appliances Holding Ltd. said it bought back RMB 498.4 million of its 0% convertible bonds due 2014 on Thursday.

The securities were bought over the counter.

Following settlement, scheduled for Nov. 24, the Gome will have RMB 2,775,300,000 of the convertibles outstanding.

The repurchase follows the company's announcement earlier in the day that it would buy back the 0% convertibles between Nov. 18 and May 18, inclusive.

Gome is a Hong Kong-based retailer of electrical appliances and electronic consumer products.

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