Gome convertible greenshoe partly exercised, adding RMB 307.2 million

New York, Sept. 23 - Gome Electrical Appliances Holding Ltd. said the greenshoe on its recent offering of RMB 2.05 billion of 3% renminbi-denominated dollar-settled convertible bonds was partially exercised, raising the size by RMB 307.2 million.

The greenshoe was for up to RMB 340 million.

In dollars, the additional amount is $45 million out of a possible $49.8 million and the original issue size was $300.2 million.

Gome priced the convertibles on Sept. 23, selling them with a premium redemption to yield 4.15% with an initial conversion premium of 29%.

JP Morgan is lead manager for the Regulation S sale.

Gome, a Hong Kong-based retailer of electrical applicances and electronic consumer products, will use proceeds for the redemption and repurchase of its 0% convertible bonds due 2014 and for general corporate purposes.

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