Jan 03, 2023 10:22 AM (GMT+8) · EqualOcean
GOME Retail Holdings Limited (00495. HK, Chinese: 国美零售) announced on 2 January 2023 the proposal of a debt-to-equity swap. Huanya Capital (Chinese: 寰亚资本), to whom GOME Retail owes around CNY 368.63 million (USD 53.26 million) in advertising fees, intends to subscribe for the additional shares of GOME Retail at a subscription price of HKD 0.1023 per share. The purchase will amount to 10.21% of the total share capital of Gome Retail. After this debt conversion, the shareholding of Wong Kwong Yu, GOME Retail's controlling shareholder, and his concert parties in GOME Retail will be reduced to 19.33%. GOME Retail, formerly GOME Electrical Appliances Holding Limited (Chinese: 国美电器), is an investment holding company founded in 1987 and principally engaged in electrical appliances businesses.