Fortunet e-Commerce extends 13% convertibles by one year to 2020

By Sarah Lizee

Olympia, Wash., July 10 – Fortunet e-Commerce Group Ltd. is extending the maturity of its $4 million 13% secured convertible bonds to June 3, 2020 from June 3, 2019, according to a notice.

The conversion period is also being extended.

All other terms of the convertibles will be the same.

“The maturity date extension will provide flexibility to the group’s deployment of its financial resources to fund its business operations and developments, as well as the management of the group’s working capital requirements,” the company said in the notice.

The extension is subject to approval by the Stock Exchange of Hong Kong Ltd.

The convertibles were originally issued to CCB International (Holdings) Ltd. subsidiary Chance Talent Management Ltd. on Dec. 7, 2017.

Fortunet e-Commerce is an investment holding company engaged in electronic commerce business. The company is based in Wanchai, Hong Kong.

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