Sinolink controlling shareholder converts HK$200m bonds

Asia Pacific Promotion Limited, Sinolink Worldwide Holdings' controlling shareholder, converted HK$200 million in convertible bonds at HK$1.70 per share on July 24.

The conversion created 117.6 million new shares, increasing Asia Pacific's stake from 51.34% to 64.46% while eliminating HK$200 million in liabilities and strengthening Sinolink's balance sheet.