C SUCCESS FIN raised 53.9 million yuan through a rights issue and spent 4 million USD to subscribe for bonds

China Financial Development (03623.HK) announced the placement of up to 77 million new shares, equivalent to an expanded share capital of 12.23%; the placement price is HKD 0.7, representing an 18.6% discount to the last trading day (2nd). The total fundraising amount is HKD 53.9 million, with a net amount of HKD 53.36 million, intended for loan repayment and general working capital.

At the same time, it subscribed to a USD 4 million three-year convertible bond from Coin Cove LLC issued to Rakesh Rajagopal, with an annual interest rate of 16%. The subscription price includes USD 1 million in cash and payment through the issuance of 33.428 million shares at a price of HKD 0.7