Shengjian Technology to Issue 493 Million Yuan in Convertible Bonds
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Shanghai Shengjian Technology plans to issue convertible bonds worth up to 492.8 million yuan to fund a project, according to a Shanghai bourse filing on Thursday. The Chinese green technology service provider will use the proceeds from the issuance to fund a phase I semiconductor equipment and key components project and to supplement its working capital. The convertible bonds' interest rate is yet to be determined. Shares of the company were up nearly 2% in afternoon trade.
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