Kingdee survives market selloff to raise $150m

The Chinese enterprise software developer is raising money through a convertible bond to invest in cloud-computing and mobile technology.

Kingdee survives market selloff to raise $150m

Kingdee International Software beat a three-day selloff in technology stocks to raise $150 million from a convertible bond late on Monday.

Chinese internet companies in particular have taken a beating, with shares in Tencent dropping 4.5% on the week’s first day of trading. Kingsoft, a Hong Kong-listed Chinese software company that issued a convertible bond on Friday, lost 6% on Monday, its fourth consecutive day of losses.

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