SHENZHEN's sf Holding, China's largest courier, announced plans to raise more than HK$5.9 billion (US$752 million) through a new share placement in Hong Kong and the issuance of convertible bonds, reports Hong Kong's South China Morning Post.
Proceeds from the HK$2.9 billion equity placement and HK$2.95 billion in zero-coupon one-year convertible bonds would be used for the firm's international and cross-border logistics capabilities, as well as research and development of advanced technologies, among others, it said in a stock exchange filing.
The transactions represent SF's first offshore fundraising since its initial public offering in Hong Kong in November, which raised HK$5.83 billion and became a bellwether of a recent wave of mainland China-listed firms issuing Hong Kong shares, known as H shares.
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Proceeds from the HK$2.9 billion equity placement and HK$2.95 billion in zero-coupon one-year convertible bonds would be used for the firm's international and cross-border logistics capabilities, as well as research and development of advanced technologies, among others, it said in a stock exchange filing.
The transactions represent SF's first offshore fundraising since its initial public offering in Hong Kong in November, which raised HK$5.83 billion and became a bellwether of a recent wave of mainland China-listed firms issuing Hong Kong shares, known as H shares.
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