Insta360 Proposes 2 Billion Yuan in Tech Bonds
Arashi Vision (SHA:688775), better known as Insta360, proposed to issue technology innovation bonds worth 2 billion yuan, according to a Shanghai bourse filing on Wednesday.The proposed bonds will have a maturity of up to 10 years.Proceeds from the issuance will be used for the research and development of technological products, debt payment and replenishment of working capital.The board of directors approved the plan, but it is still subject to shareholders' and regulators' approvals.The Chinese camera and imaging technology company's shares rose 2% during the midday trade.