First Pacific Co (HK:0142) has released an update.
First Pacific Co has announced a significant restructuring of its investment portfolio, involving the buyback of MPIC shares and the issuance of an Exchangeable Bond related to MPTC shares. This strategic move is expected to alter the company’s economic interest in MPIC from 46.3% to approximately 49.9%, and in MPTC from 99.9% to 93.3%, upon full exercise of the exchange rights. These transactions, which are inter-dependent and will occur simultaneously, will have implications for the company’s listing on the Stock Exchange.
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