trending Market Intelligence /marketintelligence/en/news-insights/trending/ytYdGiY7M_cLjTjQ7WC8BA2 content esgSubNav
Log in to other products

Login to Market Intelligence Platform

 /


Looking for more?

Contact Us
In This List

China Communications Construction to issue A-share convertible bonds

Blog

What’s on the Horizon for the Cruise, Hotel & Resorts Sector?

Capital Markets View – February 2021

Blog

Latin America multichannel, broadband market 2020 recap

Blog

TMT News & Insights: February 2021


China Communications Construction to issue A-share convertible bonds

China Communications Construction Co. Ltd. said in a Sept. 26 filing to the Hong Kong stock exchange that it is planning to issue A-share convertible bonds for up to 20 billion Chinese yuan to fund various projects and equipment purchases.

The convertible bonds will mature in six years and will be convertible into the company's yuan-denominated A-shares, with the actual initial conversion price to be determined by the company's board. The controlling shareholder, CCCG, will have pre-emptive rights to subscribe to convertible bonds for as much as 17.58 billion yuan under the issue.

The company said it will allot 12.17 billion yuan for infrastructure investments with the rest of the proceeds to be used for purchasing engineering ships and equipment.

As of Sept. 26, US$1 was equivalent to 6.63 Chinese yuan.