China Finance Investment Holdings Limited (SEHK:875) announced a private placement of 4 convertible bonds at a price of HKD 10,000,000 each for gross proceeds of HKD 40,000,000 on January 23, 2018. The transaction will involve participation from existing investor Hui Jia Investments Limited. The company entered into a subscription agreement with the investor. The bonds will be convertible into a maximum of 1,000,000,000 shares, which would represent approximately 8.85% of the enlarged share capital of the company, at a fixed conversion price of HKD 0.04 per share which represents a premium of approximately 17.65% to the closing price of HKD 0.034 per share quoted on the stock exchange on January 23, 2018. The bonds will mature after 12 months from the date of issue. The bonds will carry an interest rate of 5% per annum. The transaction is subject to certain conditions including necessary authorization and approvals. If the conditions of the transaction are not fulfilled on or before February 14, 2018, the transaction will be terminated. The bonds may be redeemed at 100% of the outstanding principle prior to the maturity date at the option of the company. The company will bear expenses of HKD 100,000 in the transaction and will receive net proceeds of HKD 39,900,000 in the transaction.