Notes issue to raise $15m

Transport company Wing Lee International Holdings has agreed to raise HK$15.06 million through a placement of unsecured convertible notes. On conversion, the notes, which have a conversion price of 10 HK cents, will represent some 9.5 per cent of the company's enlarged share capital. The company said the net proceeds of HK$14.9 million would be used as general working capital including making payments to creditors.