Yihua Chemical Offers Yihua Convertible Bonds to Investors
Hubei Yihua Chemical Industry (SHE:000422) offered convertible corporate bonds, dubbed Yihua Convertible Bonds, to investors, according to a Shenzhen bourse filing on Friday.The convertible bonds, which amounted to 3.30 billion yuan, will be preferentially allocated to the company's shareholders registered by Thursday.The subscription date for investors and shareholders is on Friday.Any unsubscribed portion of the offering will be underwritten and the underwriting commitment may not exceed 30% of the total issuance, which amounts to 990 million yuan.The chemical manufacturer's shares dropped 8% at the close.