| Poly eyes RMB 2 bln from bond sale |
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issue time:2007-03-10 08:12
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Feb. 23, 2007 (China Knowledge) – China Poly Group Corp, a State-owned conglomerate, announced plans to sell RMB 2 billion of one-year bonds.
The first batch of bonds, valued at RMB 1.2 billion, will be offered from Tuesday. China Everbright Bank has been hired to underwrite the deal.
Poly Group, which controls listed units in Hong Kong and Shanghai, is one of the 159 enterprises under the supervision and management of the State-owned Assets Supervision and Administration Commission.
Its businesses range from trading, coal mining and property to cultural projects such as movies and television show production, artwork collections and exhibitions, auctions, theatre management and advertising.
As at the end of last year, it had total assets of RMB 33.38 billion, up 46.5%, Poly Group said. The company carried total debt of RMB 10.7 billion as at the end of June last year.
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