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FINWIRES

Zhenyu Tech to Raise Up to 1.88 Billion Yuan Through Bond Issuance

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Ningbo Zhenyu Technology (SHE:300953) plans to raise up to 1.88 billion yuan through the issuance of Zhenyu Convertible Bonds 02, according to a Shenzhen bourse filing on Thursday.

The China Securities Regulatory Commission approved the planned issuance.

The convertible bonds will have a term of six years and the coupon rate for the first year is 0.20% and will rise every year until it reaches 2% in the sixth year.

The Chinese mold and structural parts supplier's shares rose 2% during the afternoon trade.

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