Zhenyu Technology launches US$258.5M convertible bond, a top-tier raise
What's the deal? Ningbo Zhenyu TechnologyDealroom has a profile for this one. Try Dealroom → launched a US$258.5M (roughly $278.8 million) convertible bond, with online subscription for the "Zhenyu Zhuan 02" issue opening on 17 August 2026. The offering comprises 18,800,000 bonds at a par value of US$13.8 each, issued at par.
How it works. Existing shareholders on the 14 August record date received priority allocation at US$1.06 par value per share. Retail investors can subscribe through the Shenzhen exchange, with a minimum of 10 bonds and a cap of 10,000 bonds (US$137.5K) per account. Winning subscribers must fund their accounts by 19 August.
Who's involved? GF SecuritiesDealroom has a profile for this one. Try Dealroom → is the sponsor and lead underwriter, handling the deal on a residual underwriting basis capped at 30% of the total, or US$77.5M. The issue was registered with the China Securities Regulatory CommissionDealroom has a profile for this one. Try Dealroom → under approval document No. 1923.
Why it matters. The bonds carry no guarantee and convert only into newly issued shares. The offering gives the listed manufacturer a sizeable financing route without immediate share dilution, while the absence of collateral leaves repayment risk if its finances materially deteriorate during the bond's life.
The signal. Convertible bonds remain a financing route for China's listed mid-cap manufacturers, allowing companies to raise capital while deferring potential equity dilution.
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Image credit: Fagor Automation
