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June 17, 2025Chow Tai Fook Jewellery plans one of Hong Kong’s biggest bond sales this year
Chow Tai Fook Jewellery Group is seeking HK$7.85 billion (US$1 billion) from the sale of one of Hong Kong’s biggest convertible bonds this year. Proceeds will be used for the jewellery business and general working capital, according to the terms.
Chow Tai Fook, which recently reported better-than-expected earnings, has been campaigning to lift its image, positioning itself closer to premium labels such as Tiffany and Cartier instead of a traditional gold retailer.
The bonds are convertible at any time from June 30, 2028, according to the terms. There is a lock-up of 90 days on the company.
Chow Tai Fook shares rose 6 per cent to HK$13.72 in Hong Kong on Monday before news of the sale emerged. The stock has doubled this year after falling 42 per cent last year.
