China High Speed repurchases RMB 150 million of its 0% convertibles

By Devika Patel

Knoxville, Tenn., Nov. 20 - China High Speed Transmission Equipment Group Co. Ltd. said it bought back RMB 150 million more of its RMB 2 billion issued zero-coupon convertible bonds due 2011 on Nov. 19.

The company paid 63 for the bonds for a total of $13.84 million. It had bought back RMB 255 million of the notes on Oct. 24 and RMB 31.8 million more on Oct. 31. It repurchased another RMB 122 million on Nov. 13.

China High Speed, which is incorporated in the Cayman Islands, is a leading mechanical transmission equipment manufacturer in the People's Republic of China.

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