Linktone Sells Remaining Stake in Aerospace Satellite Corporation Holding Notes for $10M
Linktone Ltd. (NASDAQ: LTON) today announced that it has sold its remaining US$10 million in principal amount of notes issued by Aerospace Satellite Corporation Holding B.V., realizing a gain of approximately 9% over the original purchase price of the notes.
The proceeds from that transaction including the accrued interest (at an interest rate of 12.75% per annum) were used to fund the purchase of 117.9 million shares of common stock of PT Global Mediacom Tbk through open market transactions on the Indonesia Stock Exchange at an average price of IDR 800 (approximately US$0.095 based on the exchange rate at the time of the purchase).
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