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| Broadens the Group's Capital Base and Accelerates Development |
HONG KONG, May 8, 2016 - (ACN Newswire) - Differ Group Holding Company Limited ("Differ Group" or the "Group") (stock code: 6878.HK), a leading provider of short- to medium-term financing and financing-related solutions in China, today announced a Subscription and Placing Agreement ("Agreement") with Huarong International Financial Holdings Limited (993.HK), Cinda International Holdings Limited (111.HK) and Cinda International Securities Limited.
According to the Agreement, Differ Group has conditionally agreed to issue the Convertible Bonds at the initial Conversion Price of HK$0.86 per share amounting up to US$50.0 million (equivalent to approximately HK$390.0 million). The total of these Convertible Bonds represents approximately 10.7% of existing issued share capital of the Group. The Group intends to use the net proceeds from the Subscriptions and the Placing for business development including (i) lending to customers and acquisition of value assets; and (ii) general working capital.
Mr. Hong Mingxian, Chairman of the Group, said, "Differ Group is very honoured to earn the trust and support of investors. The funds raised can help enhance the Group's capital base and accelerate our development especially on asset management services. Riding on the Group's industry-leading position and this funding, we will continue to optimize our development prospects and implement our proactive business strategies, taking advantage of the favourable national policies while capturing market opportunities, thereby generating satisfactory returns for our shareholders."
Contact:
Strategic Financial Relations Limited
Heidi So +852 2864 4826 heidi.so@sprg.com.hk
Janet Fong +852 2864 4817 janet.fong@sprg.com.hk
Adrianna Lau +852 2114 4987 adrianna.lau@sprg.com.hk
Fax: +852 2804 2789 / +852 2527 1196
Topic: Press release summary
Source: Differ Group Holding Company Limited
Sectors: Daily Finance, Funds & Equities
http://www.acnnewswire.com
From the Asia Corporate News Network
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