Stock News: CHT to raise 34.5 mln thru convertible notes

CHT (Holdings) Ltd may gain after it said it has entered into an agreement with CIMB-GK Securities Pte Ltd and two other institutional investors to raise 34. 5 mln sgd via the issuance of three-year unsecured convertible notes. "We intend to use the proceeds to finance the expansion of (our) production facilities in Zhuozhou and Shanghai, for research and development and for working capital purposes," said CHT executive chairman Wong Fung. He added the funds will also allow the company to raise its production capacity and meet a projected increase in demand for its products in mainland China and overseas.