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Meituan raises US$10b in stock, convertible bond sale
20 APR 2021 / 20:00 H.
HONG KONG: Food delivery behemoth Meituan has raised US$10 billion (RM41 billion) in a stock and convertible bonds sale, underscoring strong investor faith in the growth prospects of some Chinese tech firms despite a regulatory clampdown on the sector.
The Tencent-backed firm with a market valuation of US$220 billion said it plans to use its new warchest to invest in autonomous delivery vehicles, delivery drones and other cutting-edge technology.
20 APR 2021 / 20:00 H.
HONG KONG: Food delivery behemoth Meituan has raised US$10 billion (RM41 billion) in a stock and convertible bonds sale, underscoring strong investor faith in the growth prospects of some Chinese tech firms despite a regulatory clampdown on the sector.
The Tencent-backed firm with a market valuation of US$220 billion said it plans to use its new warchest to invest in autonomous delivery vehicles, delivery drones and other cutting-edge technology.