Sunny Optical Technology Plans Offshore Yuan Bond Issue; Shares Fall 12%

MT Newswires Live

06/26

Sunny Optical Technology (HKG:2382) plans to issue renminbi-denominated bonds to professional investors outside the U.S. to refinance existing debt, according to a Friday Hong Kong bourse filing.

The company expects to begin a roadshow on or around June 26, with the size and pricing of the proposed bond offering to be determined through a book-building process, subject to market conditions and investor demand.

Sunny Optical intends to seek a Hong Kong listing for the bonds.

Shares of the company were down over 12% in Friday's midday trade.

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