ZTE's Hong Kong Stock Plunges Nearly 6%, Plans to Issue $35.84 Billion Zero-Coupon Convertible Bond Due in 2030 with Initial Conversion Price of HK$30.25 per Share
Glorious 7th July | ZTE Corporation (000063) (0763.HK) plummeted nearly 6% to HK$24.55 during the trading session. On the news front, ZTE Corporation plans to issue a $35.84 billion zero-coupon co
Glorious 7th July | ZTE Corporation (000063) (0763.HK) plummeted nearly 6% to HK$24.55 during the trading session. On the news front, ZTE Corporation plans to issue a $35.84 billion zero-coupon convertible bond due in 2030, with the proceeds to be used to strengthen its AI products research and development investment. The initial conversion price is set at HK$30.25 per share, representing an approximately 15.9% premium over yesterday's closing price. All convertible bonds will convert into approximately 130 million shares of H-shares, equivalent to a roughly 2.64% increase in the total issued share capital.
