China Unicom to complete issue of 1.8 billion dollar convertible bonds

NetEase Finance October 19 China Unicom issued a notice in Hong Kong today that it has completed the 1.839 billion-dollar bearer convertible bond issue, the relevant bonds will be traded on the Hong Kong Stock Exchange today.　　It is reported that the bond issues raised funds will be used for 3G, broadband and other business development to provide financial support. According to the previous China Unicom announcement, the convertible bonds initially traded at HK $15.85 per share, a premium of HK $40.7% over the closing price of Unicom yesterday. Assuming that convertible bonds are converted in full at the initial exchange price, convertible bonds can be converted to about 900 million shares, equivalent to about 3.82% per cent of the issued share capital. The owner of the bond may exercise a stock exchange between November 28, 2010 and October 8, 2015.　　After deducting commission and expenditure, the estimated net amount of the bond issue is about USD 1.823 billion.　　The announcement also said that the issue of convertible bonds raised funds will be 3G, broadband and other companies focus on the development of business to provide strong financial support, to enhance the company's overall market position and competitive strength. China Unicom today (hk.0726) Gaokaigao, as of press time, Unicom's share price has risen 1.78% to HK $11.46.