HK Stock Market Move | Taiwan (09890) surged over 8% in the morning session with the company issuing HK$468 million in zero-interest convertible bonds to build core competitive strength in AI+ games.

TANWAN (09890) rose more than 8% in the early trading session, rising 6.91% as of the time of writing, to HK$17.01, with a trading volume of HK$3249.98 million. On the news front, TANWAN recently announced its plan to issue HK$468 million zero-coupon convertible bonds, with an initial conversion price of HK$23.50 per share, representing a premium of approximately 38.24% over the closing price of HK$17.00 per share on the last trading day before the agreement date on the Hong Kong Stock Exchange. The net proceeds from the issuance of the convertible bonds, approximately HK$4.586 billion, will be used for investments in AI-related businesses and equity investments in the AI industry to accelerate the company's strategic layout in the "AI + gaming" sector. It is reported that the convertible bonds are fully subscribed by the internationally renowned investment management fund LMR Partners. LMR Partners is headquartered in London and has offices in New York, Hong Kong, Zurich, Dubai, Dublin, and Glasgow. This cooperation with LMR introduces long-term, stable, high-quality international funds to the company, helping to optimize the capital structure, and enhance the company's visibility and influence in the global capital market.