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Hunan Gold's parent to raise up to 1.2B yuan via convertible bonds

Hunan Gold Corp. Ltd. said Dec. 13 that its parent Hunan Gold Group LLC has secured authorities' approval to issue convertible bonds of no more than 1.2 billion Chinese yuan.

Under the approval, the parent company needs to launch the notes within the next 12 months. The listed unit said it would disclose further details of the issue when they become available.

As of Dec. 13, US$1 was equivalent to 6.62 Chinese yuan.