CTS enhances liquidity with placement

China Travel Services (CTS) has completed a secondary share placement to maintain its current ownership level in China Travel International Investment, following the exercise of a convertible from subsidiary to parent.
May 24, 2001

Full conversion of a HK$600 million ($77 million) convertible bond issued by the subsidiary in March has prompted a subsequent share placement led by BNP Paribas Peregrine on Tuesday.

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