Tanwan Inc. Completes HK$468 Million Zero-Coupon Convertible Bond Issue

ZX Inc. ( (HK:9890) ) has provided an announcement.

Tanwan Inc. has completed the issuance of HK$468 million zero-coupon convertible bonds due 2027, following satisfaction of all conditions under its subscription and placing agreement, with all bonds placed to an independent third-party subscriber. The bonds carry an initial conversion price of HK$23.50 per share and, if fully converted, will result in the issuance of 19,914,804 new shares, representing about 3.79% of the current issued share capital (excluding treasury shares) and 3.65% of the enlarged share base, providing the company with estimated net proceeds of approximately HK$458.6 million to support its capital needs and potentially strengthen its balance sheet while moderately diluting existing shareholders.

The most recent analyst rating on (HK:9890) stock is a Hold with a HK$18.00 price target. To see the full list of analyst forecasts on ZX Inc. stock, see the HK:9890 Stock Forecast page.

More about ZX Inc.

Tanwan Inc., incorporated in the Cayman Islands and listed in Hong Kong under stock code 9890, operates as a public company with its shares traded on the Main Board of the Stock Exchange of Hong Kong. While the announcement does not detail its specific business lines, the company is positioned to access international capital markets through equity and convertible bond financing.

Average Trading Volume: 2,902,746

Technical Sentiment Signal: Buy

Current Market Cap: HK$10.43B

Learn more about 9890 stock on TipRanks’ Stock Analysis page.