China lottery company pair bet on convertible demand

China_money_god_230px
By Clare Hammond
10 Apr 2014

LotSynergy, a technology company dedicated to the lottery business in China, priced an investor friendly convertible on Wednesday, relying mostly on long only accounts due to a lack of stock borrow available.

The five year put three deal was launched on April 8 with a coupon range of 4%-5% and a conversion premium range of 20%-30% over the closing share price of HK$0.76. The base issue size was HK$580m ($74.8m), with a HK$200m increase option.

Barclays and Credit Suisse priced ...

Already a subscriber?

Continue reading this article

Try full access to GlobalCapital

Free trial