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ArtGo Holdings (03313) to raise HK$476m from CBs placing
  [ArtGo Holdings (03313) said it agreed to issue 5%
coupon convertible bonds convertible into maximum of 900 million conversion shares to be 
issued in maximum of 10 tranches, each due on the date falling 24 months from the issue
date.
  The conversion shares represent around 28.18% of the enlarged issued share capital of
ArtGo Holdings.
  Assuming the conversion price is HK$0.531 per share, the estimated net proceeds of about
HK$476 million will be applied as to about HK$32 million for general working capital of
the Group; about HK$90 million for financing the expansion of the existing business of the
Group; about HK$74 million for repayment of bank and other borrowings; and about HK$280
million for financing any potential investment opportunities of the Group that might arise
from time to time.
  ArtGo Holdings also proposes to increase its authorised share capital from HK$30 million
HK$50 million by the creation of an additional 2,000 million unissued shares of HK$0.01
each. 

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