Ping An Securities Group (Holdings) Limited (SEHK:231) announced that it has entered into a new convertible bond subscription agreement for the private placement of convertible bonds for gross proceeds of HKD 200,000,000 on January 20, 2017. The transaction will include participation from Topsource International Holding Co., Limited. The bonds will be issued at par. The bonds carry a fixed interest of 5% per annum, payable in arrears on June 20 and December 20 in each year with the first payment of interest being made on June 20, 2017 and the last payment of interest being made on the relevant maturity date. The bonds of principal amount of HKD 100,000,000 will mature on the last day of 24 months from the date of issue and bonds of principal amount of HKD 100,000,000 will mature the last day of 36 months from the date of issue. The bonds are convertible into common shares of the company at a fixed conversion price of HKD 0.096 per share. Post the conversion, a total of 2,083,333,333 shares will be issued; representing a stake of approximately 11.03% of the entire issued share capital of the company and approximately 9.93% of the issued share capital as enlarged by the issue of the conversion shares in full. The closing of the transaction is subject to the fulfillment of certain conditions, including the approval of the Stock Exchange. The completion of the transaction shall take place on the fifth business day following the fulfillment of all the conditions.