Pengo Holdings Group Ltd. has announced the completion of a placing of convertible bonds under a specific mandate, raising gross proceeds of HK$120 million. After deducting related expenses, the net proceeds amount to approximately HK$118.4 million. Of this, around HK$18.4 million, or 15.5%, will be allocated as working capital for the group's daily operating expenses and payment to suppliers and subcontractors. Immediately upon full conversion of the convertible bonds, the total number of shares will increase from 736,736,000 to 1,287,194,715, with the placees holding approximately 42.76% of the enlarged share capital. The company confirmed that none of the placees will become a substantial shareholder as defined under the listing rules.

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