
ZTO Prices US$1.5 Billion Convertible Notes with Capped Calls and Buyback

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ZTO Express (Cayman), Inc. has priced a US$1.5 billion offering of convertible senior notes due 2031 at 98.9% of par, targeting offshore qualified institutional buyers. This deal includes capped call transactions and aligns with a concurrent share repurchase plan, aimed at enhancing liquidity and limiting dilution. The latest analyst rating for ZTO Express stock (HK:2057) is a Buy, with a price target of HK$180.00. ZTO Express is a Chinese logistics provider specializing in parcel delivery and e-commerce fulfillment, with listings in Hong Kong and New York.
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