Taiwan circuit board maker Zhen Ding plans $800 million convertible bond sale (updated)

Zhen Ding Technology Holding

22/09/2026 07:31

Adds more details from sheet throughout
By Yantoultra Ngui
HONG KONG, Sept 22 (Reuters) - Taiwan-listed printed circuit board maker Zhen Ding Technology Holding 4958.TW plans to raise $800 million through a 5-year, zero-coupon convertible bond offering to fund working capital, according to a term sheet reviewed by Reuters on Tuesday.
Here are more details from the sheet:
The bonds will mature around September 29, 2031 and can be converted into Zhen Ding shares. The initial conversion price is T$537.90 to T$562.35 ($16.97 to $17.74) per share, a 10% to 15% premium to the reference share price of T$489, which is Tuesday's closing price.
The company plans to use the proceeds to supplement working capital.
The bonds carry no regular interest payment. Their annual return will range from negative 1.0% to zero, meaning holders may receive less than their initial investment when the bonds are redeemed.
Investors can ask Zhen Ding to buy back the bonds after three years, at 97.04% to 100% of face value. Zhen Ding cannot redeem the bonds during the first three years.
($1 = 31.7050 Taiwan dollars)


($1 = 31.7050 Taiwan dollars)

 (Reporting by Yantoultra Ngui; Editing by Jacqueline Wong)
 ((Yantoultra.Ngui@thomsonreuters.com;))