Ferrotec Seeks 1.18 Billion Yuan in Proceeds From Convertible Bonds Issuance
Ferrotec Anhui Technology Development (SHE:301297) plans to raise 1.18 billion yuan from the issuance of convertible bonds, according to a Shenzhen bourse filing on Saturday.The semiconductor and display panel cleaning services company's shares jumped 6% at the close of Monday's trade.Proceeds will be used to fund seven construction projects, which have a total planned investment of 1.59 billion yuan.