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Munsun Capital cuts conversion price on 7.25% convertibles due 2018
By Marisa Wong
Morgantown, W.Va., Aug. 27 – Munsun Capital Group Ltd., formerly known as China Precious Metal Resources Holdings Co., Ltd., decreased the conversion price of its 7.25% convertible bonds due 2018 to HK$0.8144 per share from HK$1.2360 per share, effective Aug. 27, according to accompany announcement.
The adjustment is due to a rights issue on the basis of six rights shares for every one existing share held.
The Hong Kong-based precious metals mining and investment holding company sold HK$1,028,000,000 of the bonds in January 2013. As of the conversion price adjustment date, there was HK$311,916,064 principal amount outstanding.
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