Corporate digest

Yangzijiang Shipbuilding

THE shipbuilding and repair company has entered into 2 separate bond agreements to issue S$25 million to investors EDB Investments and Alexandrian Worldwide Incorporated.

These will be zero-coupon bonds with a maturity of 12 months and could be redeemed at a premium of 12 cents per annum. Conversion of the bonds will result in the issue of a maximum of 37.2 million shares at S$1.345 per share, based on a 50-day volume weighted average share price of Yangzijiang.