Taoyuan, Taiwan, 17 January, 2024 -- Zhen Ding Technology Holding Limited (TWSE: 4958) today announced the fourth unsecured overseas convertible bonds issuance (the “Bonds”; ISIN number: XS2742707644) priced with the conversion price of NT$109.62 on 17 January, 2024. The Bonds is expected to issue on 24 January, 2024 and raised a total of US$400 million from the offering. The zero-coupon Bonds, with a maturity of five years and a yield rate of 3.375%, are expected to issue on January 24, 2024 and raised a total of US$400 million from the offering. The proceeds of this offering will be used to supplement the Company’s working capital and for the repayment of loans. With a solid financial health, we will continue to invest in R&D of advanced technology and strengthen our leading position in the high-end product market.

The offering was well received by global institutional investors. The book was multiple times oversubscribed in a short time after the deal was launched, and attracted participation from a number of top European long-only funds. In 2024, it opened the window for international convertible bonds in the Asia ex-Japan capital markets, and it is also the first sizeable international convertible bond in Taiwan since last September. Despite recent volatilities of Asian stock markets, institutional investors remain confident about the company's long-term prospect!

Citigroup Global Markets Limited and UBS AG Hong Kong Branch (in alphabetical order) acted as the Joint Global Coordinators and Joint Bookrunners for the offering. Download as PDF