Green International Holdings Limited (SEHK:2700) announced that it has entered into subscription agreement for private placement of convertible bonds for gross proceeds of HKD 30,000,000 on June 24, 2016. The transaction will include participation from new investor JQ Intl Investment Development Group (China) Limited. The convertible bonds carry fixed interest rate of 8% per annum. The bonds are convertible at fixed conversion price of HKD 0.30 per share for maximum of 100,000,000 conversion shares to acquire 4.83% enlarged stake of the company. The convertible bonds are issued at par, are redeemable at maturity date, and carry maturity date of three years from the date of issuance. The conversion period will commence from the first anniversary of the bonds from the date of issue and ending on the bonds maturity date. The bonds issued are unconditional, unsubordinated, and unsecured. The transaction is subject to certain precedent conditions. If the conditions precedent is not fulfilled on or before July 25, 2016, the agreement may be terminated. The completion of the transaction will take place on the fifth business day from the date of completion of the conditions precedent. The transaction is not subject to shareholders’ approval.