TANWAN (09890) Rises Over 7% Again After Premium Zero-Coupon Convertible Bond Issue, Raising HK$450M for "AI+Gaming" Expansion

Stock News2025-12-19

TANWAN (09890) surged over 7% intraday, extending its monthly gain to more than 36%. At press time, the stock was up 4.61% at HK$17.91, with a turnover of HK$42.4 million.

The company announced plans to issue zero-coupon convertible bonds totaling HK$468 million (approximately US$60 million), fully subscribed by global investment management firm LMR. Notably, the conversion price was set at HK$23.50 per share, representing a 38.24% premium over the last closing price of HK$17 before the agreement.

Net proceeds from the bond issuance are expected to reach approximately HK$458.6 million. TANWAN intends to allocate all net proceeds toward AI-related business investments and equity stakes in AI-focused industries, accelerating its strategic positioning in the "AI+gaming" sector.

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