Doctorglasses plans convertible bond issue up to CNY375m

Doctorglasses Chain Co., Ltd. (SZSE:300622) has announced its intention to issue convertible corporate bonds to unspecified investors, seeking to raise a maximum of CNY375 million. The funds will be allocated towards several key initiatives, including expansion of its retail network with 225 new stores and upgrades to existing locations (CNY180 million), enhancement of its headquarters operations and brand (CNY70 million), upgrades to its digital platforms (CNY70 million) and CNY55 million to replenish working capital. The bonds will have a six-year term, and the specific interest rate will be determined before issuance, with shareholder approval already secured in February and April 2025. Ping An Securities will act as the lead underwriter.