** Shares of J&T Global Express 1519.HK slip 5.4% to HK$10.52, on track for the biggest one-day pct decline since April 7

** Indonesian courier service seeks to raise HK$4.65 bln ($596 mln) through an issue of convertible bonds

** Proceeds to develop overseas business, for technology advancement and to optimise capital structure, among others

** Bonds are convertible into 319.6 mln new shares, or 3.5% of the enlarged share capital, and that triggers concern of dilution effect on shares

** YTD, stock up 3.1%, Hang Seng Index .HSI up 4.2%

($1 = 7.7983 Hong Kong dollars)

(Reporting by Donny Kwok)

((donny.kwok@thomsonreuters.com))