Kasen International (HKG:0496) unit Koh Kong Zhejiang SEZ is looking to raise a total of $70 million from the issue of corporate bonds, a late Monday Hong Kong bourse filing said.

Shares of the furniture maker were down over 7% in Tuesday afternoon trading.

The bonds will be issued in Cambodia within a two-year period.

The firm will use proceeds from the issue to finance the construction of infrastructure and biomass power plants.