China Ruyi falls amid dilution fears on convertible bonds plan

About this update from China Ruyi Holdings Limited

** Shares of China Ruyi Holdings HKEX:136 fall 11.3% to HK$2.05, their lowest levels since April 7 ** Stock on course to snap three straight sessions of gains, if losses hold ** The Tencent-backed content producer and on-line streaming platform operator said on Tuesday that it proposed to issue HK$2.34 billion ($301.74 million) 3.95% convertible bonds due 2030, raising proceeds to expand its content production and for working capital** The bonds are convertible into 865.75 mln new shares, representing 5.28% of the enlarged share capital, at an initial conversion price of HK$2.704 per share** Tencent HKEX:700 shares climb 0.6% ** Hang Seng Tech Index HSI:HSTECH falls 1.1% and the Hang Seng Index HSI:HSI slips 0.1%** Stock down 13.5%, YTD

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