A Hong Kong‑listed logistics and express delivery operator is moving ahead with plans to raise approximately HK$4.7 billion (about US$596 million) through a convertible bond issue, aimed at accelerating technology development and overseas expansion efforts. The capital raise is intended to support the company’s broader strategy of strengthening its global logistics footprint and advancing digital capabilities.
Under the proposal, the convertible bonds — to be listed on the Hong Kong Stock Exchange — will feature an initial conversion price of HK$14.55 per share, potentially translating into up to about 319 million new shares if fully converted. The proceeds are earmarked for expanding international business operations, investing in technology, optimising the corporate capital structure and share repurchase initiatives, the firm said in its announcement.
Founded in Indonesia in 2015, the logistics company has expanded its network across Southeast Asia and beyond, becoming one of the region’s largest express delivery providers. Analysts say that raising funds through debt convertible to equity — backed by a robust Asian logistics market — reflects ongoing demand for digitalisation and cross‑border service enhancements in parcel delivery and supply chain operations.
Industry observers note that Hong Kong’s financial market continues to attract capital‑raising activity from logistics and tech‑oriented firms, supported by the city’s role as an international capital‑raising hub and gateway for companies pursuing global growth amid competitive supply chain landscapes.
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