Jinxin Fertility Group (HKG:1951) plans to launch an asset-backed securities program with an expected issuance of about 1.93 billion yuan, according to a Tuesday filing with the Hong Kong bourse.
The ABS will be backed primarily by a Shenzhen property used by the group's Shenzhen Zhongshan Hospital, along with Jinxin Fertility's entire interest in the property's holding company.
The group expects to receive net proceeds of about 1.20 billion yuan after subscribing for about 20% of the ABS.
The funds will be used to repay debt, support working capital, and develop its core medical business.
Shares of the firm were up nearly 3% in Wednesday's late-morning trade.
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