ZHIDAO INT'L plans to issue convertible bonds with a principal amount of HKD 11 million
ZHIDAO INT'L plans to issue HKD 11 million convertible bonds to subscribers on January 13, 2025, with an initial conversion price of HKD 0.11 per share, representing a premium of approximately 22.2% over the closing price of HKD 0.09. If fully converted, it will convert into 100 million shares, accounting for approximately 5.05% of the existing issued share capital. The expected net proceeds are approximately HKD 10.8 million, mainly for daily operations and market expansion
According to the Zhitong Finance APP, ZHIDAO INT'L (01220) announced that on January 13, 2025, the company plans to issue convertible bonds with a principal amount of HKD 11 million to the subscriber (Belt and Road Infrastructure Limited Partnership Fund).
The initial conversion price is HKD 0.11 per share, which represents a premium of approximately 22.2% compared to the closing price of HKD 0.09 per share on January 13. Based on the initial conversion price of HKD 0.11, and assuming the convertible bonds are fully converted, the convertible bonds will convert into 100 million shares, equivalent to approximately 5.05% of the company's existing issued share capital and approximately 4.81% of the company's issued share capital after the issuance of the converted shares.
The total amount expected to be raised from the issuance of the convertible bonds is approximately HKD 11 million, with a net amount of approximately HKD 10.8 million. The group intends to use the net proceeds for daily operations and expansion in local and overseas markets (including the development of road and construction projects in Indonesia)
