Hong Kong's AMTD International Inc. announced the appointment of Andrew Chiu as a director and vice chairman and said it raised a total of US$115 million from the sale of class A and B ordinary shares and convertible notes in a private placement.

Chiu's appointment took effect Dec. 19. He currently serves as assistant to the chairman of Far East Consortium International Ltd.

The investment bank raised US$100 million from the issuance of 7,307,692 class A shares and 4,526,627 class B shares, at US$8.45 apiece, to Value Partners Greater China High Yield Income Fund, Asian Harvest Investments Ltd. and Infinity Power Investments Ltd., which is owned by AMTD International Chairman and CEO Calvin Choi. It also sold US$15 million of convertible notes to Value Partners Greater China. The note carry an interest rate of 2.00% per year and will mature in June 2023.

In addition, AMTD International appointed Derek Chung managing director, chief strategy and business development officer, and head of investment banking, effective Jan. 14, 2020. Chung is managing director and head of financial institutions group for Asia at Deutsche Bank AG.

AMTD International is a unit of AMTD Group Co. Ltd.