Longyoung Electronics to offer up to RMB 1.12 billion convertibles

By William Gullotti

Buffalo, N.Y., April 11 – China’s Top Bright Holding Co., Ltd. announced that subsidiary Longyoung Electronics (Kunshan) Co., Ltd. intends to offer up to RMB 1.12 billion unsecured convertible bonds, according to a notice on Tuesday.

The proposed offering, which is still subject to shareholder approval, would be Longyoung’s first convertible offering.

The bonds will have a par value of RMB 100 and a six-year term.

Further details, such as offering price, underwriting, coupon rate and conversion terms, have yet to be determined.

Proceeds from the proposed offering will be used to fund the company’s composite copper foil production base construction project.

Longyoung Electronics is a EMI/RFI-shielding manufacturer based in Jiangsu, China.

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