General image of Shanghai Pudong Development Bank. PHOTO: HANDOUT
China’s blockbuster convertible debt sale draws bids equal to size of Indonesia’s economy as investors seek safer bets
- Investors place 7.8 trillion yuan of orders for Shanghai Pudong Bank’s convertible bond offering, more than 300 times oversubscribed
- The Shanghai lender plans to raise up to 50 billion yuan in what would be China’s biggest-ever sale of bonds that can be converted into stocks
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China stock market
General image of Shanghai Pudong Development Bank. PHOTO: HANDOUT