Bilibili Proposes Capital Raise Via Convertible Bond Sale, Share Placement
MT Newswires Live09-04 19:11
Bilibili (HKG:9626) is proposing transactions to raise capital, including a bond offering and share placement, a Friday Hong Kong bourse filing showed.
The company is proposing the issue of $700 million of convertible bonds due in 2031, of which $200 million will be subscribed by Tencent (HKG:0700) through its unit.
Additionally, the company intends to place class Z ordinary shares worth around $400 million held by Tencent through its subsidiary and certain shares borrowed from non-affiliate third parties.
Buybacks of $100 million of borrowed shares and $200 million of existing class Z shares are also planned.
The transactions are being proposed to raise capital on attractive terms amid the strength of the current capital market.
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