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Wuxi Paike Seeks Up to 1.58 Billion Yuan from Convertible Bond Issuance

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Wuxi Paike New Materials Technology (SHA:605123) is looking to raise up to 1.58 billion yen from the issuance of convertible bonds to public investors, according to a Tuesday disclosure to the Shenzhen bourse.

The bonds have a term of six years, maturing on Aug. 5, 2032, and are convertible to shares at an initial price of 81.80 yuan apiece.

Zheshang Securities (SHA:601878) is the sponsor and lead underwriter.

The metal forgings manufacturer will allocate the proceeds for its high-end energy equipment and technology research institute projects, as well as for working capital.

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