ZHIDAO INT'L (01220) plans to issue convertible bonds in the amount of 11 million Hong Kong dollars.

ZHIDAO INT'L (01220) announced that on January 13, 2025, the company plans to issue convertible bonds with a principal amount of HK$11 million to subscribers (including Roadbase Limited Partnership Fund). The initial conversion price is HK$0.11 per share, which represents a premium of approximately 22.2% over the closing price of HK$0.09 per share on January 13. Based on the initial conversion price of HK$0.11, and assuming full conversion of the convertible bonds, the convertible bonds will be converted into 100 million shares, equivalent to approximately 5.05% of the company's existing issued share capital and approximately 4.81% after the issuance of the conversion shares. The expected total proceeds and net proceeds from the issuance of convertible bonds are approximately HK$11 million and HK$10.8 million, respectively. The group intends to use the net proceeds for daily operations and to expand into domestic and overseas markets (including the development of road and construction projects in Indonesia).