China Household Holdings Limited (SEHK:692) announced that it has entered into subscription agreement for a private placement of convertible bonds for gross proceeds of HKD 100,000,000 on May 12, 2017. The bonds will be subscribed by Zeng Wenbin. The bonds have fixed coupon rate of 2% per annum. The bonds will mature after two years from the date of the issue. The bonds are convertible into 263,157,894 common shares at fixed conversion price of HKD 0.38 per share and are redeemable on its maturity. The convertible bonds are transferable in nature. The transaction is subject to conditions including approval from the stock exchange. The company will receive net proceeds of HKD 99,700,000 in the transaction.