Mongolia Energy Corporation Limited (SEHK:276) announced a private placement of two 5% convertible notes of HKD 200,000,000 each for gross proceeds of HKD 400,000,000 on November 28, 2012. The notes will have a term of three years from the closing date. The notes will be convertible at an initial price of HKD 0.36 per share into 1,111,111,110 shares representing 14.12% stake in the company. Golden Infinity Co., Ltd. and Chow Tai Fook Nominee Limited will invest HKD 200,000,000 in the transaction. The shares to be issued upon conversion are subject to shareholders' approval. The transaction is subject to certain regulatory approvals. The interest will be paid at a rate of 5% per annum payable in arrears on each anniversary of the issue of notes. The notes will be convertible into share in multiples of HKD 10,000,000. The company will receive net proceeds of HKD 398,900,000.

On December 17, 2012, the company announced that it will seek approval for the transaction a special general meeting to be held on January 8, 2013. The company will raise the funding from Golden Infinity Co., Ltd., and Chow Tai Fook Nominee Limited simultaneously and if either of the investors fails to complete, the company shall not be obliged to proceed to completion.

On January 8, 2013, Mongolia Energy Corporation Limited closed the transaction.