China’s King Stone Energy eyes $500 million issue of convertibles

By Marisa Wong

Madison, Wis., Feb. 9 – King Stone Energy Group Ltd. is considering an issue of convertible securities totaling about $500 million, according to a company announcement.

The full conversion of these proposed securities would result in Belton Light Ltd. ceasing to be a controlling shareholder, the company said.

The company informed shareholders on Feb. 3 that it is negotiating with independent third parties for a possible fund raising, as previously reported.

King Stone is a coal and silver mining company based in Hong Kong.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.