J&T Global Express to Raise HK$4.65 Billion via Premium-Priced Convertible Bonds
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J&T Global Express Limited plans to raise HK$4.65 billion through a proposed issue of zero coupon guaranteed convertible bonds due 2033. The bonds will be issued at par, with an initial conversion price of HK$14.55 per Class B share, representing a premium of 25%-31% over recent trading prices. If fully converted, this could result in approximately 319.6 million new shares, equating to about 3.56% of the current issued share capital. The company aims to list the bonds and new shares on the Hong Kong Stock Exchange to enhance its capital structure while managing shareholder dilution.
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