Chow Tai Fook Proposes HK$8.8 Billion Convertible Bonds for Expansion

An announcement from Chow Tai Fook Jewellery Group ( (HK:1929) ) is now available.

Chow Tai Fook Jewellery Group has announced a proposed issue of HK$8.8 billion in convertible bonds due in 2030. The proceeds from this issuance will be used to develop and finance the company’s gold jewellery business, upgrade stores, and support strategic expansion efforts. The bonds are intended to be listed on the Hong Kong Stock Exchange, and their conversion could result in a significant increase in the company’s share capital. This move is expected to bolster the company’s market positioning and enhance its financial flexibility.

The most recent analyst rating on (HK:1929) stock is a Buy with a HK$9.00 price target. To see the full list of analyst forecasts on Chow Tai Fook Jewellery Group stock, see the HK:1929 Stock Forecast page.

More about Chow Tai Fook Jewellery Group

Chow Tai Fook Jewellery Group is a prominent player in the jewellery industry, primarily focusing on gold jewellery and related products. The company is known for its strategic expansion in both domestic and international markets, and it operates a network of retail stores.

YTD Price Performance: 92.27%

Average Trading Volume: 20,397,246

Technical Sentiment Signal: Buy

Current Market Cap: HK$129.2B

Find detailed analytics on 1929 stock on TipRanks’ Stock Analysis page.