Soho China the biggest real estate developer in Beijing’s central business district, plans to raise HK$2.8bn ($360m) from a sale of five-year convertible bonds to at least six investors.

Proceeds from the 3.75% notes will be used for 'general corporate purposes' and possible acquisitions, according to a filing to the Hong Kong stock exchange today.

The bonds will be convertible into 476,190,476 shares, representing about 9.2% of the current share capital, the statement said. If all the bonds are converted they will form about 8.4% of the newly enlarged total.

bloomberg.com