Kingsoft taps Chinese tech trend with $300m CB

One of the few non-US listed Chinese tech companies attracts orders of close to $2 billion as investors snap up rare opportunity.

Kingsoft, a Hong Kong-listed software company, raised HK$2.327 billion $300 million on Thursday evening from the sale of a convertible bond, taking advantage of the continued strong demand for Asian equity-linked deals.

The company, which makes a popular suite of office software, online games and antivirus tools, also benefited from the current popularity of Chinese tech companies, most of which are listed in the US. Kingsoft therefore offers a rare opportunity for non-US investors to get exposure to the sector.

It launched the deal at around 5.30pm on Thursday and had closed the books by 8.30pm with close to $2 billion of orders, having capped...

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