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JHT Design Plans 850 Million Yuan Convertible Bond Sale to Fund Semiconductor Expansion

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JHT Design (SHA:603061) plans to issue up to 850 million yuan in convertible bonds to unspecified investors to fund its semiconductor equipment plant expansion, according to a Shanghai bourse filing on Friday.

The manufacturer of semiconductor chip testing equipment said the proposed convertible bonds have received an AA credit rating with a stable outlook from China Chengxin International Credit Rating.

A portion of the proceeds will be used to support the construction of its smart manufacturing and R&D facility for advanced semiconductor equipment.

JHT's shares jumped 8% in late-afternoon trade Friday.

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