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Cfmoto Power Issues 2.18 Billion Yuan Convertible Bonds; Shares Up 5%

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Zhejiang Cfmoto Power (SHA:603129) issued convertible bonds worth 2.18 billion yuan, according to a Shanghai bourse filing on Tuesday.

The convertible bonds were first offered to shareholders registered with the Shanghai branch of China Securities Depository and Clearing. The preferential allotment amounted to 1.72 billion yuan, while abandoned subscriptions in the online offering totaled 8.3 million yuan.

The remaining bonds after the preferential allotment were offered to public investors through the Shanghai Stock Exchange.

Huatai United Securities served as the lead underwriter of the issuance.

The Chinese motorcycle manufacturer's shares rose 5% during the morning trade.

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