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.