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China LotSynergy raises $75 mln through bond issue
Thursday 10th of April 2014
China LotSynergy, which last week reached an accord with Mingsheng Bank to provide mobile lottery services in China said it raised HK$580 million ($75 million) through a convertible bond issue. The deal offered a conversion price of HK$0.93, or about 24 percent above its Wednesday closing price of HK$0.75, but still below its year-to-date high of HK$0.95 on 11th March. The company plans to use the funds to develop mobile technology and explore other opportunities in the fast-growing China market.
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