Standard Development Group (HKG:1867) agreed to place convertible bonds to at least six placees to raise up to HK$37 million, a Wednesday filing with the Hong Kong bourse said.
The convertible bonds carry a 4.5% per annum interest rate and have an initial maturity of two years.
The bonds are convertible into a maximum of 148 million new shares at HK$0.25 apiece. The shares represent 9.01% of the firm's enlarged issued share capital.
The construction and engineering company will use proceeds from the placement to develop its ordinary business, as well as for general working capital.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.