China Nickel investors exercise two-year put option on HK$156 million in 3% convertibles

By Devika Patel

Knoxville, Tenn., May 19 - China Nickel Resources Holding Co. Ltd. said it bought back HK$156 million of its HK$625 million in 3% convertible bonds due 2012 for HK$179.26 million on May 18.

The bonds were bought back as a result of the holders exercising their two-year put option.

China Nickel is a Hong Kong-based steel producer.

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