Food-delivery giant Meituan raises US$10 billion as its top-up stock sale fetches top price amid ravenous appetite for Chinese tech deals

Food-delivery giant Meituan raises US$10 billion as its top-up stock sale fetches top price amid ravenous appetite for Chinese tech deals

Food-delivery giant Meituan raises US$10 billion as its top-up stock sale fetches top price amid ravenous appetite for Chinese tech deals


Meituan, China’s dominant food delivery platform, raised almost US$10 billion of additional funds overnight to finance its push into using autonomous vehicles and aerial drones in its operations.The Beijing-based company raised US$6.588 billion by selling additional shares at HK$273.25 (US$35.25) each, and sold about US$3 billion of convertible bonds. The top-up shares placement, equivalent to 3.2 per cent of the company’s equity, was made at the top end of a marketing range of between HK$265…

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