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| HSI1 | 24,917.60 | +111.97 | 192.63B |
| HSCEI1 | 8,284.58 | +38.25 | 51.08B |
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2026-09-14 16:47:13 HSBC Global Investment Research issued a report on Z.AI (02513.HK), which announced a new H-share placement of USD2 billion, alongside the issuance of USD3 billion zero-coupon CB, raising a total of USD5 billion. Assuming full conversion at the initial conversion price, the equity dilution for existing shareholders would be about 5-6%, the broker estimated. In addition, after completion of the second H-share placement and CB issuance, the company's cash and cash equivalents should amount to at least USD7.6 billion, equivalent to about 16% of its current market cap. HSBC Global Investment Research gave the company a Hold rating with a TP of HKD1,375. ~ AASTOCKS Financial News Website: www.aastocks.com | |