Z.AI raises about $2 billion in Hong Kong share sale, offers convertible bonds, term sheet shows
11/09/2026 11:26
Z.AI raises about $2 billion in Hong Kong share sale, offers convertible bonds, term sheet shows HONG KONG, Sept 11 (Reuters) - Z.AI Co Ltd 2513.HK will raise about $2 billion through a primary placement of 21.97 million Hong Kong-listed shares at HK$714 ($91.05) each, a 10% discount to its last closing price on Friday, according to deal terms seen by Reuters.
The company is also marketing 20.14 billion yuan ($3.00 billion) of U.S. dollar-settled, zero-coupon convertible bonds due in 2027, the sheet showed.
($1 = 7.8421 Hong Kong dollars)
($1 = 6.7080 Chinese yuan renminbi)
(Reporting by Yantoultra Ngui; Editing by Sharon Singleton)
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