Shoucheng (HKG:0697) targets to raise $180 million via the issue of debt, according to a Hong Kong bourse filing Monday.

The provider of intelligent infrastructure asset services is looking to raise the funds via the issue of 0.75% convertible bonds due 2026.

Amounts raised will be used to fund investment in certain areas of the business, Shoucheng said.

The bonds convert into shares of the company at a rate of HK$1.632 apiece for a total of 865,786,764 conversion shares that represent nearly 12% of the business.

Haitong International Securities, Huatai Financial Holdings (Hong Kong), DBS Bank, Guotai Junan Securities (Hong Kong), and HSBC are serving as the managers of the offering.