Hung Hing to redeem all outstanding zero-coupon convertibles due 2012 on April 28

By Devika Patel

Knoxville, Tenn., March 26 - Hung Hing Printing Group Ltd. announced it plans to redeem all HK$10,000 of its outstanding zero-coupon guaranteed convertible bonds due 2012 on April 28.

The company said holders may convert their securities at HK$5.88 per share until 3 p.m. April 17.

Hung Hing said it will pay a HK$574.64 early redemption premium for each HK$10,000 redeemed.

The notes are callable under the "clean up" provision since more than 90% of the issue has already been redeemed.

Hung Hing prints and makes paper, boxes and corrugated cardboard and has plants in Heshan, China, and Zhongshan, China.

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