🟢 Z.AI is trading 4.9% up today after a sector-driven rebound

Z.AI is trading 4.9% up now at HK$755 after a sector-driven rebound following the sharp selloff tied to its HK$5 billion fundraising.

• The financing included discounted shares and convertible bonds, raising dilution concerns.
• Reuters reported 21.97 million new shares priced at HK$714, a 10% discount to the prior close.
• Hong Kong’s tech index rose 0.87%, while peer Zhipu gained over 8%, supporting the rebound.