Shanghai Industrial issues HK$3.9 billion CB

The company's exposure to China real estate and the large deal size help to counter the fairly aggressive terms, particularly for outright investors.

Shanghai Industrial issues HK$3.9 billion CB

Hong Kong-listed Shanghai Industrial, a conglomerate backed by the Shanghai municipal government, last night raised HK$3.9 billion $503 million from a Hong Kong dollar-denominated convertible bond.

The deal launched just two hours after Lotte Shopping hit the market with Asia’s first equity-linked deal this year. At first glance this seemed a bit odd as there could be a risk that the two deals might cannibalise on each other’s demand. However, two of the bookrunners...

To continue reading, please login or register for free

Print Edition

FinanceAsia Print Edition

CONFERENCES

  • 2nd Compliance Summit Southeast Asia

    17 August 2017  |  Singapore
    The 2017 Compliance Summit Southeast Asia will take an in-depth look at the key compliance considerations today with a focus on regulation and new ...