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FINWIRES

Zhen Ding Technology to Raise $800 Million via Convertible Bonds

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Zhen Ding Technology (TPE:4958) plans to raise $800 million through the issuance of unsecured overseas convertible bonds, according to a Tuesday filing to the Taiwan stock exchange.

The five-year zero-coupon convertible bonds will be issued on Sept. 9 and are scheduled to mature on Sept. 29, 2031.

Proceeds from the bond issue will be used to supplement working capital, the company said.

If the bonds are fully converted in 2026, the dilution ratio of the share capital is estimated at 3.92%.

The company's shares were down over 2% in recent trade.

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