Suzhou Tianmai Thermal Technology (SHE:301626) plans to raise up to 786 million yuan from the issuance of up to 7.86 million convertible corporate bonds, according to a Thursday filing with the Shenzhen Stock Exchange.
The bonds hold a term of six years with an initial conversion price of 267.33 yuan per share, with an interest rate beginning at 0.1% in the first year up to 2% in the sixth year.
Proceeds from the fundraising will go to the company's conductive and heat dissipation products intelligent manufacturing base construction project.
Shares rose 5% during afternoon trading on Thursday.