Hao Wen Holdings Limited (SEHK:8019) announced that it has entered into a placing agreement with Suncorp Securities Limited for a private placement of convertible bonds, on a best effort basis, for gross proceeds of up to HKD 8,584,000 on September 25, 2020. The transaction will include participation from not less than six placees. The transaction is expected to close within ten business days. The bonds to be issued are priced at principal amount. The bonds will carry interest rate of 5%, payable upon maturity or redemption. The bonds will mature in two years from the closing of the transaction. The bonds are convertible into shares at conversion price of HKD 0.2 per share. The conversion period will start on the issue date of the convertible bonds and expiring on the maturity date. The bonds are freely transferable and redeemable in nature.