Tom.com completes debut CB

The media group takes an opportunistic view of market conditions.

Tom.com, the Greater China media group controlled by Li Ka Shing group companies, completed the largest ever convertible from Hong Kong's GEM market yesterday Thursday, raising $150 million. With Citigroup and Deutsche Bank as joint lead managers, the group also increased the deal slightly via the greenshoe, which was raised from $25 million to $35 million.

Tom.com is said to have been evaluating the equity-linked market for the last couple of months and decided timing...

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