Green International Holdings Limited (SEHK:2700) announced that it has entered into a subscription agreement for a private placement of 8% convertible bonds with new investor Hong Kong Qian Hai Financial Group Limited for gross proceeds of HKD 30,000,000 on December 17, 2015. The company will issue bonds at its par value. The bonds will carry a fixed interest rate of 8% per annum.

The bonds will be convertible into common shares of the company at a fixed conversion price of HKD 0.30 per share from first year of closing till the end of maturity date. The bonds will be redeemable, non-transferable, and will mature in three years. The transaction is subject to Listing Committee of Stock Exchange having granted the permission to deal in conversion shares.

The transaction will stand terminated if the conditions are not met on or before January 18, 2016. The transaction is expected to close on the fifth business day after the fulfillment of the conditions of the agreement. If the investor exercises its conversion rights, the investor will hold 4.83% stake in the enlarged capital of the company.

The board of directors of the company approved the transaction.