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CMHI launches HK$15.3bn convertible rights issue
China Merchants Holdings International will offer HK$15.3bn ($1.97bn) worth of mandatory convertible securities to its existing shareholders in a deal that could improve the company's credit rating.
CMHI will offer the mandatory convertible bonds at a subscription price of HK$30.26 per security, at a ratio of one for every five CMHI ordinary shares held. This equates to an 18% premium over the average closing price of the five trading days up to March 31 of
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