USI Gets Green Light on Bond Issuance to Raise Capital

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Universal Scientific Industrial (Shanghai) Co. Ltd’s (USI) application to offer convertible corporate bonds has been approved by the China Securities Regulatory Commission (CSRC).

USI plans to issue the bonds with a 6-year maturity to raise RMB3.45 billion yuan ($528 million) capital, which it intends to use for chip module production in its Shengxia factory, electronic product manufacture in its Huizhou factory, and wearable device manufacture in its Vietnam factory.

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