Fong's Industries sells upsized $103 million CB

Hong Kong-listed textile equipment company prices offer in the middle of marketed range.

Hong Kong-listed FongÆs Industries last night April 19 sold HK$800 million $103 million worth of convertible bonds to raise cash to set up new production facilities and expand its existing ones and to finance acquisitions and joint ventures within its core business areas.

The five-year bond issue, which was arranged by Deutsche Bank, was increased from a base size of HK$600 million û since the greenshoe was exercised in full. It was priced in the middle of the...

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