Fengmao Stock (301459.SZ) plans to issue convertible bonds to raise no more than 610 million yuan.

Zhichuan Finance APP News, Fengmao Corporation (301459.SZ) disclosed the preplan of issuing convertible corporate bonds to unspecified targets. The company plans to issue convertible bonds with a total fundraising amount not exceeding 610 million yuan (inclusive). The initial conversion price shall not be lower than the average trading price of the company's A shares for the twenty trading days before the announcement date and the trading day before that. The net amount of the fundraising, after deducting issuance expenses, is intended to be invested in the production base of intelligent chassis thermal control system (Phase I) project, construction project of producing 8 million sets of rubber hoses for cars annually, and supplementing working capital.