Shanghai Fudan plans up to RMB 2 billion six-year convertibles

By Marisa Wong

Los Angeles, June 12 – Shanghai Fudan Microelectronics Group Co. Ltd. is proposing to issue A share convertible corporate bonds to non-specific investors, according to a company notice.

The proposed issuance is capped at RMB 2 billion. The actual issue size will be determined by the company’s board under the authorization of a shareholders’ meeting.

The six-year bonds will be issued at par of RMB 100.

Proceeds will be used for some development and industrialization projects.

The Shanghai-based company designs and sells semiconductor devices.

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