Chicago, Feb. 6 – Kiu Hung International Holdings Ltd. announced that it successfully placed HK$45 million of 4% five-year convertible bonds to at least six placees, according to a notice.
The agreement with placing agent CNI Securities Group had an extended long-stop date of Feb. 6.
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.
| Issuer: | Kiu Hung International Holdings Ltd.
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| Amount: | HK$45 million
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| Issue: | Convertible bonds
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| Tenor: | Five years
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| Placement agent: | CNI Securities Group
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| Coupon: | 4%
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| Conversion premium: | 32.74%
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| Settlement date: | Feb. 6
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