Fancy an equity line?

The concept of a committed equity line has arrived from the US in Hong Kong to the benefit of a Chinese biotech company.

Last week was a week of firsts for Deloitte Touche Corporate Finance. Fresh from launching its first Chinese IPO, it claims it has pioneered a new convertible structure in Asia.

The deal is for Global Link Cyber International - which will soon change its name to China Biomedical Group. The novel structure is a convertible drawdown, and while commonly used by growth companies in the US, it is the first time it has been used in...

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