J&T Global Express (1519) said it plans to issue zero-coupon guaranteed convertible bonds to raise HK$4.65 billion.
The bonds, due in 2033, have an initial conversion price of HK$14.55, a 30.85 percent premium to its closing price of HK$11.12 on Thursday.
Assuming full conversion, the bonds will be converted into a total of 319.6 million new shares, accounting for around 3.47 percent of the enlarged share capital.
The company intends to use the net proceeds to further develop overseas business and technology advancement, optimize capital structure including share repurchase, and for general corporate purposes, according to a filing on Friday.
