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Zhou Hei Ya repurchases HK$296 million 1% convertibles
By William Gullotti
Buffalo, N.Y., Aug. 24 – Zhou Hei Ya International Holdings Co., Ltd. further repurchased a portion of its HK$1.55 billion 1% convertible bonds due 2025 on Wednesday, according to an announcement.
The HK$296 million of bonds, representing 19.1% of the original issue, were repurchased on the open market at an average purchase price of 95. The repurchased bonds were convertible into 29,570,429 shares of the company.
Funding for the repurchases came from internal resources of the issuer.
As of Aug. 24, the company has repurchased HK$556 million, or 35.87%, of the original issue.
After the repurchased bonds are canceled, there will be HK$994 million of the bonds remaining.
As reported Tuesday, the company indicated further repurchases may occur through Sept. 21.
Zhou Hei Ya is a Wuhan, China-based food products company.
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