According to the financial app Intelligence Finance, Shenghui Clean (02521) announced that on October 30, 2024, the company plans to issue a first tranche and a second tranche of convertible bonds through placement agents to at least six underwriters, with a maximum amount of 40 million Hong Kong dollars and 54.575 million Hong Kong dollars respectively. The subscription price is equivalent to the total amount of the convertible bonds, with a combined maximum of 94.575 million Hong Kong dollars.

Assuming the preliminary conversion price of 0.291 Hong Kong dollars (adjustable) per share is exercised, the company will distribute and issue up to 0.325 billion shares of convertible shares, equivalent to approximately 20.00% of the total number of shares issued on the date of the placement agreement. The preliminary conversion price of 0.291 Hong Kong dollars represents a discount of approximately 19.17% compared to the closing price of 0.360 Hong Kong dollars per share reported on the Stock Exchange on the date of the placement agreement.