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2021-12-06 13:06
12:04 AM EST, 12/06/2021 (MT Newswires) -- China Environmental Technology Holdings (HKG:0646) waived its right of first refusal to redeem the convertible bonds in the company being sold by a creditor and granted its consent to the sale.
Shengbiao Zhang is selling its holdings of $2.33 million worth of convertible bonds issued by China Environmental Technology to Zhang Zihong for HK$20 million ($2.6 million) in cash.
The transfer will have no impact on the company's existing business, according to a Monday disclosure.
Upon full conversion of the convertible bonds, Zhang Zihong will become the controlling shareholder of the wastewater treatment solutions provider.
The stock gained nearly 2% in recent trade.
Price (HKD): $0.29, Change: $+0.01, Percent Change: +1.75%