The Wuhan Economic Development Investment Co is located in WEDZ. [Photo provided to en.whkfq.gov.cn]
The Wuhan Economic Development Investment Co on Nov 11 issued bonds worth 1 billion yuan ($141.1 million) for the development of the real economy.
This is the second time that the firm has issued non-public shares on the capital market. Last year, the firm issued 1.5 billion yuan in private placement bonds.
Capital is considered the most crucial factor in developing real economy. The recent bond issuance is a bold and innovative move for the company as it seeks to expand its financing channels.
The capital collected from the bonds will reportedly be used to develop major industrial projects and infrastructure programs in the Wuhan Economic & Technological Development Zone (WEDZ).
The firm was founded by the zone and has become an investment company handling financial investments, incubation and innovation, asset operation and project construction.
CALB – a leading power cell manufacturer in China – has established a power cell and energy storage system base in WEDZ. Wuhan Economic Development Investment Co strategically invested in CALB, and is currently holding a 49-percent stake in the company. In October, CALB was listed in Hong Kong, becoming the first company in the field to go public on the Hong Kong capital market.
