Fordoo Holdings Limited’s Convertible Bond Offering

Chungs Lawyers, the associated firm of DeHeng Law Offices, advised China Fordoo Holdings Limited on the offering.

China Fordoo Holdings Limited executed the issuance of convertible bond in the principal amount of HK$60 million at the rate of 8% per annum due 2024. Upon the exercise of right to convert all of the outstanding principal amount of the convertible bond at the initial conversion price of HK$0.60 per conversion share, the investor will receive 100 million shares, representing approximately 4.56% of the issued share capital of China Fordoo as enlarged by the subscription. China Fordoo intends to use the net proceeds from the subscription for future business development; repayment of debts; and general working capital.

The Chungs Lawyers team was led by Ernest Chung and Stephen Kei, and included Adrian Mak, Fiona Kam, Edwin Wong and Alex Tsoi.

Involved fees earner: Ernest Chung – Chungs Lawyers (in association with DeHeng); Fiona Kam – Chungs Lawyers (in association with DeHeng); Stephen Kei – Chungs Lawyers (in association with DeHeng); Adrian Mak – Chungs Lawyers (in association with DeHeng); Alex Tsoi – Chungs Lawyers (in association with DeHeng); Edwin Wong – Chungs Lawyers (in association with DeHeng);

Law Firms: Chungs Lawyers (in association with DeHeng);

Clients: China Fordoo Holdings Limited;