HK-listed device maker Microport falls most in 3 months on convertible bonds issue

MicroPort Scientific

02/06/2021 04:05

** Shares of China's medical device manufacturer Microport
Scientific Corp  0853.HK  fall as much as 8.4% to HK$64.15, on
course for the biggest intraday percentage decline since March 8
    ** Stock on track to snap four consecutive sessions of
gains; the tenth most actively traded by turnover and among the
30 biggest percentage decliner on the Hong Kong bourse
    ** Shanghai-based company proposes to issue $700 mln zero
coupon convertible bonds due 2026 to independent professional
investors, raising proceeds for R&D investment, capital
expenditure and for working capital  urn:newsml:reuters.com:*:nFWN2NJ10Y
    ** The bonds are convertible into 58.5 mln new shares, or
3.12% of the enlarged share capital, at HK$92.8163 per share
    ** The Hong Kong Hang Seng Commerce & Industry Index  .HSNC 
slips 0.2%, and the healthcare index  .HSCIH  eases 0.6%
    ** The Hang Seng China enterprises index  .HSCE  slides
0.2%, and the benchmark index  .HSI  is down 0.3%
    ** As of last close, the stock had surged 67.2% this year

 ((Reuters Messaging:
donny.kwok.thomsonreuters.com@reuters.net))