Chinese small-cap raises $100 million in CB market

A market leading supplier of batteries for electronic bikes, Chaowei Power attracts good demand from international investors for its renminbi-denominated offering.

Chinese small-cap raises $100 million in CB market

Deeming from the deal flow, the convertible bond market in Asia is definitely open for business again and not just for high-profile names. Last night, Hong Kong-listed Chaowei Power Holdings, a small-cap Chinese company that makes batteries for electric bicycles, was able to raise Rmb663 million $100 million from a renminbi-denominated, but US dollar-settled, CB that saw decent demand primarily from outright investors.

To make sure the deal did get enough traction, bookrunner Goldman Sachs...

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