Z.AI is trading 7.91% down at HK$664 after announcing a US$5 billion fundraising package, with discounted equity issuance and potential dilution driving the decline.
- The company placed 21.97 million shares at HK$714, approximately a 10% discount, alongside roughly US$3 billion of zero-coupon convertible bonds.
- Reuters reported an initial conversion price of HK$892.50.
- Trading remains highly volatile after Z.AI’s September 14 close of HK$721, down 9.08%, following the financing announcement.