Sinco Pharmaceuticals Holdings Limited (SEHK:6833) announced a best efforts private placement of convertible bonds for gross proceeds of up to HKD 170,000,000 on January 29, 2019. The transaction will involve participation from not less than six placees. The bonds will be issued at par and will mature 18 months after the issuance. The bonds will carry 6% interest per annum and will be repaid in two installments, first on 12 months after issuance and second on the maturity date. The bonds will be convertible from period commencing from the day immediately following 12 months after the date of issuance up to 10 days prior to the maturity date. The convertible bonds is convertible into a maximum of 348,631,999 conversion shares at the conversion price of not less than HKD 0.488 per conversion share. The transaction is expected to close after 5 business days subject to fulfillment of certain conditions between the company and the placement agent. The transaction has been approved by the board of directors of the company.