Bilibili Raises USD755 Million in Follow-On Offering and Bond Sale; Existing Investors Dispose of Shares Worth USD117 Million
Posted On: 08 Apr 2019 | Source(s): Bilibili
China-based, US-listed online entertainment platform Bilibili has raised USD755 million through a follow-on offering on Nasdaq and concurrent sale of convertible notes. The company sold 14 million American Depository Shares (ADS), each representing one Class Z ordinary share of the company, at a price of USD18.00 per ADS in the offering. In addition to the primary shares offered, the company’s existing shareholders sold 7 million ADSs at the same price. Bilibili raised an additional USD500 million through the issuance of convertible senior notes due in 2026. Investors in Bilibili include China-based technology conglomerate Tencent Holdings and private equity and venture capital firms Accel Partners, China Renaissance, CMC Capital Partners, H Capital, IDG Capital, Legend Capital, Loyal Valley Capital, and Qiming Venture Partners.