Conch Venture ignites investors with debut CB

Hong Kong-listed environmental company raises $500 million from its debut convertible debt issue and offered investors an alternative against the bulk of outstanding papers from the property sector.

China Conch Venture, an environmental solutions provider and a major shareholder in the country’s largest cement producer, extended the streak of equity-linked issuance in Asia ex-Japan this year as it raised HK$3.925 billion $500 million from a five-year convertible bond sale on Wednesday.

The Hong Kong-listed company’s latest bond sale took total equity-linked issuance in Asia ex-Japan to $11 billion so far this year. With four months remaining towards the end of the year, there is little doubt the figure could surpass $11.2 billion of 2011, or even edge close to 2010’s $15.5 billion, the highest volume over the past decade.

China Conch Venture, which engages...

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