Qiangda Circuit wins approval for $82M convertible bond issue
What's the deal? Shenzhen Qiangda CircuitDealroom has a profile for this one. Try Dealroom → has received approval from the China Securities Regulatory Commission to issue 550 million CNY (about $82 million) in convertible bonds. The circuit board maker, listed on Shenzhen's ChiNext board under code 301628, will sell 5.5 million bonds at a face value of 100 CNY each. China Merchants SecuritiesDealroom has a profile for this one. Try Dealroom → is the sole underwriter.
The terms: The six-year bonds run from August 19, 2026 to August 18, 2032, with an initial conversion price of 84.04 CNY per share. Conversion opens on February 25, 2027, six months after issuance closes.
Who gets first dibs? Existing shareholders get priority, with each share entitling holders to 7.2967 CNY worth of bonds. With 75,375,800 shares outstanding, current owners could subscribe to nearly the entire offering. Public investors can bid under the ticker "371628."
Why now? The regulatory nod (CSRC License No. 1752) moves the plan into its execution phase. The bonds, rated AA-, carry no guarantee and will trade on ChiNext under the name "Qiangda Zhaizhai" from the first listing day.
The signal: Convertible bonds remain a favoured tool for Chinese firms seeking capital without immediate share dilution. At about $82 million, Qiangda's raise sits above the typical funding round, giving the company a cushion while betting its shares climb toward the conversion threshold.
Read more: MiniChart
Image credit: Rubber Dragon
