Lonking buys back another $3 million of its 0% convertibles at 66

By Devika Patel

Knoxville, Tenn., Oct. 20 - Lonking Holdings Ltd. repurchased $3 million more of its zero-coupon convertible bonds due 2012 on Oct. 17.

Lonking paid a price of 66 for a total of $1.98 million.

The company had previously bought back $6 million, paying 81 for the securities, for a total purchase price of $4.86 million. It bought $1 million of the bonds earlier this month for $790,000.

Lonking, formerly China Infrastructure Machinery Holdings Ltd., is a maker of wheel loaders and other infrastructure machinery based in Hong Kong.

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