Changjiang Securities raises 700m yuan for innovation bonds

Changjiang Securities Company Limited has announced the successful conclusion of its 2025 public offering of technology innovation corporate bonds (second tranche) to professional investors. The offering, with an initial target of up to 1 billion yuan, ultimately raised 700 million yuan at a fixed coupon rate of 2.15% for a five-year term. The issuance attracted strong investor interest, achieving a subscription multiple of 2.37 times.

The bonds were priced at 100 yuan per unit and distributed to professional institutional investors through an inquiry and allotment process. The company's directors, supervisors, senior management, shareholders holding over 5% of shares, and other related parties did not participate in the subscription.

The net proceeds from this bond issuance, after deducting issuance expenses, are earmarked primarily for technology innovation initiatives, with at least 70% of the funds allocated to this sector. The remaining portion will be used to repay interest-bearing debts. Key underwriters, including CITIC Securities, China Securities Co., Ltd., and Huatai United Securities, collectively subscribed for 200 million yuan of the bonds.