Wealth Glory Holdings Limited (SEHK:8269) announced a private placement of zero coupon convertible bonds on best efforts basis for gross proceeds of HKD 30,000,000 on December 12, 2012. Kingsway Financial Services Group Limited will serve as placement agent to the company and will receive a placing commission equal to 1% of the gross proceeds. The bonds will be convertible into common shares of the company at HKD 0.20 per share. The bonds will be placed to not less than ... six placees, which will be professional, corporate, institutional and/or individual investors. The bonds will mature two years from the date of issuance. The transaction is subject to shareholder approval. The company will raise net proceeds of approximately HKD 29,400,000. On January 3, 2013, the company announced that it shall dispatch the finalized circular by January 18, 2013. On January 18, 2013, the company announced that it is seeking shareholder’s approval at extraordinary general meeting which is to be held on February 8, 2013. On February 8, 2013, shareholders of the company approved the transaction at the extraordinary general meeting. On February 28, 2013, the company extended the long stop date. The transaction is now expcted to complete on or before April 5, 2013.
Read More

Sponsored Financial Commentaries

To contact WEALTH GLORY HOLDINGS LTD, please visit . Company data is provided by Capital IQ. Please use this form to report any data issues.

Our data partners will research the update request and update the information on this page if necessary. Research and follow-up could take several weeks. If you have questions, you can contact them at bwwebmaster@businessweek.com.