CHINA

摘要

Cuotai junan securities has reduced the target size of a proposed issuance of six-year convertible bonds to Rmb7bn (US$1.01bn) from an initial Rmb8bn. The offering, for which Essence Securities is the sponsor, still needs CSRC approval. Guotai Junan will use the proceeds to replenish working capital. Duilong Jiadu Technology has proposed the issuance of exchangeable bonds of up to Rmb1bn in Shanghai-listed pci-suntek technology.