CN INT DEV CORP (00264) plans to issue convertible bonds with an aggregate principal amount of up to HK$30.24 million.

CN INT DEV CORP (00264) announced that on October 27, 2026, the company plans to offer convertible bonds with an aggregate subscription principal amount of up to HK$30.24 million to no fewer than 6 placees (all of whom, together with their ultimate beneficial owners, are independent third parties). Based on the initial conversion price of HK$2.16 per conversion share (subject to adjustment), if all conversion rights are fully exercised, the company will allot and issue a maximum of 14 million conversion shares, representing approximately 2.95% of the company's total existing issued shares and approximately 2.87% of the company's total issued shares as enlarged by the conversion shares to be allotted and issued immediately upon full conversion of the convertible bonds at the initial conversion price. Assuming all convertible bonds are successfully placed by the placing agent, the estimated net proceeds from the placing are approximately HK$29.45 million. The company intends to use the net proceeds to replenish general working capital and strengthen the group's financial position, of which (a) approximately HK$11.76 million will be used to purchase materials, equipment and expense costs related to leather manufacturing and/or leather and motor vehicle engine extended cleaning services, as well as other trading businesses; (b) approximately HK$10.39 million will be used as general working capital of the group, including (but not limited to) payment of rent, staff costs, professional fees and other general administrative and operating expenses; (c) approximately HK$4.38 million will be used to repay outstanding payables; and (d) approximately HK$2.92 million will be used for new business development opportunities or initiatives.