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Sovereign Wealth Funds Briefing - Categorized | Financials, Market

SouthGobi Energy to convert USD 250 mln of China Investment Corporation

Posted on 16 March 2010

From Steelguru.com: SouthGobi Energy Resources Ltd announced that it intends to provide Land Breeze II a wholly owned subsidiary of China Investment Corporation a notice of intention to convert USD 250 million of the USD 500 million convertible debenture issued to Land Breeze II into common shares of SouthGobi Energy Resources.

Pursuant to the Debenture conversion terms, SouthGobi has the right to call for the conversion of up to USD 250 million of the Debenture upon SouthGobi achieving a public float of 25% of its common shares……………………………………..Full Article: Source

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