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FINWIRES

GEM Issues 500 Million Yuan of Three-Year Tech Bonds

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GEM (SHE:002340) issued 500 million yuan of three-year technology innovation bonds, according to a Friday filing with the Shenzhen Stock Exchange.

The bonds hold a coupon rate of 2.54% and will mature on July 16, 2029. They form part of a 1.50-billion-yuan issuance.

Industrial Bank (SHA:601166) is the bookkeeping manager and lead underwriter.

Guangdong China Resources Bank, CITIC Bank (HKG:0998, SHA:601998), Guangfa Bank, Bank of Shanghai (SHA:601229), and Shanghai Pudong Development Bank (SHA:600000) are the joint lead underwriters.

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