The bonds were backed by shares of another offshore subsidiary of Sinopec, the mainland’s largest refiner.
In addition, medical equipment maker Shanghai Microport Medbot plans to raise an estimated HK$389.62 million in Hong Kong by issuing a total of 25.1 million new shares at HK$15.50 a share. After deducting fees and expenses, the proceeds were expected to be around HK$382.33 million, which would be used to fund research and development and replenish working capital.
And CSI Properties, a Hong Kong-based property investment firm, said it would allow a subsidiary called ESL to issue new notes with a three-year maturity. The offering amount, to be announced at a later date, would be used to balance CSI’s balance sheet and optimise its debt structure.
Hong Kong’s capital markets started to rebound in late 2024 after three years of declines. The total market capitalisation of stocks traded in Hong Kong stood at US$38.8 trillion at the end of April 2025, up 21 per cent from US$32.1 trillion in the year-earlier period, according to Hong Kong’s stock exchange.
