Cancelled CB/placement

Dongyue scraps concurrent CB and secondary share placement

Dongyue cancels the combined deal after its controlling shareholder declines to sell shares at the bottom of the price range, a source said.

<div style="text-align: left;"> The refrigerants made by Dongyue are used in a variety of products, including air conditioners (ImagineChina) </div>

Anette Jönsson

April 23, 2012

After more than 30 hours of trying to patch together a deal and a two-day suspension of the stock, Dongyue Group early Friday evening called off its renminbi-denominated convertible bond offering and the concurrent placement of secondary shares to be sold mainly by its largest shareholder.

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