Leadmicro’s convertible bond issuance approved; to fund smart factory

Chinese semiconductor and solar cell equipment manufacturer Leadmicro has received regulatory approval from the China Securities Regulatory Commission (CSRC) to issue convertible corporate bonds to unspecified investors. The proceeds, capped at RMB 1.17 billion ($162.5 million), will primarily fund the construction of a smart manufacturing facility for thin-film deposition equipment and the expansion of its R&D lab. According to its fundraising prospectus released in November 2024, RMB 642.8 million ($89.3 million) of the funds will be allocated to the factory, which will produce deposition tools mainly for solar cell and semiconductor wafer manufacturing.

In February, Leadmicro announced the first shipment of its new in-house developed Edge Passivation 2.0 equipment, aimed at the half-cut solar cell application (see China Solar PV News Snippets).