By Jonathan Breen
08.00 AM
Food delivery giant Meituan has raised close to $10bn from an overnight sale of shares and convertible bonds, getting solid interest from investors and raising money to ramp up its investment into the technology part of its business.
The issuer, one of China’s leading internet companies, came to the market in need of cash to invest in new delivery technologies. It pocketed HK$51.2bn ($6.6bn) from a placement of new shares and sold a $2.9bn dual-tranche CB to capitalise on enticing terms available in the equity-linked market.
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