Biostime raises $322 million from CB

Chinese baby formula milk continues to be a winner with investors.

Biostime raises $322 million from CB

Biostime International, a Chinese milk powder company, made its post-IPO capital markets debut on Tuesday with a HK$2.5 billion $322 million convertible bond.

Taking advantage of a share price that has tripled in the past year, the Hong Kong-listed company raised zero-coupon finance at a time when interest rates and straight bond yields are expected to edge higher as the US Federal Reserve continues to unwind its asset purchases and the US economy...

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