Kiu Hung extends convertible placing agreement to early February

Chicago, Dec. 19 – Kiu Hung International Holdings Ltd. extended its convertible bond placement agreement with placing agent CNI Securities Group through a long-stop date and closing date of Feb. 6, according to an agreement notice.

The supplemental placing agreement is dated Dec. 18. The original agreement was from Aug. 29.

CNI is working to place up to HK$45 million of 4% five-year convertible bonds to at least six investors. The placing commission is 0.5% of the aggregate principal amount.

The initial conversion premium was set at 32.74% when the agreement was first signed.

Proceeds are being used to construct a Chinese medicinal herbs plantation base in Hubei and for general working capital.

The company started in the Chinese herbs business in 2021.

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