Vobile Group Limited announced that it has entered into a subscription agreement for the private placement of convertible bonds for the gross proceeds of HKD 117,000,000 on July 31, 2022. The transaction will include participation from Lucion International Investment Limited. The convertible bonds will be convertible into 21,992,481 shares with initial conversion price of HK 5.32.

The bonds will bear interest of 4% per annum, payable annually in arrears and will mature after three years from the issue date. The company will pay to the investor a non-refundable handling fee, which is equal to 1.5% of the issue price.