China Nickel draws demand for HK$2 billion CB

The company's transformation into an integrated stainless steel company and stellar earnings add to the strong interest.

Hong Kong-listed China Nickel Resources has raised HK$2 billion $256 million from a convertible bond that attracted a lot of attention because of the companyÆs transformation from a special steel manufacturer into an integrated stainless steel company.

The companyÆs expansion both upstream, through the acquisition of purchase rights from an iron-nickel mine in Indonesia, and in the mid- and downstream segment of the market, through the addition of its stainless steel business, is already paying off with a five-fold...

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