Maoye Shangsha eyes RMB 1.1 billion three-year exchangeable bonds

By Marisa Wong

Morgantown, W.Va., April 16 – Maoye International Holdings Ltd. announced that its wholly owned subsidiary, Shenzhen Maoye Shangsha Co., Ltd. (Maoye Shangsha), plans to issue up to RMB 1.1 billion of three-year exchangeable bonds in one or more tranches.

The bonds would be exchangeable into shares of Maoye Commercial Co., Ltd., another subsidiary of Maoye International.

Huarong Securities Co. Ltd. will be the underwriter for the best-efforts offering.

Maoye is a department store based in Shenzhen, China.

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