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BILIBILI-W (09626.HK) Plans USD700 Million Convertible Senior Notes Offering, Alongside Equity Placement and Share Repurchase
2026-09-04 16:56:11 BILIBILI-W (09626.HK) announced plans to offer USD700 million in aggregate principal amount of convertible senior notes due 2031. The company plans to use the proceeds to fund concurrent hedged repurchases; fund concurrent Tencent repurchases; and support AI-driven business growth, including but not limited to enhancing its AI capabilities in content understanding, recommendation and creation; deepening user engagement through its high-quality content and community; leveraging AI to improve productivity and efficiency; and for general corporate purposes. The notes offering includes Tencent's subscription for USD200 million in aggregate principal amount of the notes on the same terms as other investors; and a secondary placement of Class Z ordinary shares, including approximately USD400 million of existing Class Z ordinary shares held by Tencent and certain shares borrowed from non-affiliated third parties, which will be offered concurrently to the same class of investors through the same book-building process. In addition, the company expects to repurchase approximately USD100 million of borrowed shares to mitigate potential dilution from conversion of the notes, and USD200 million of existing Class Z ordinary shares held by Tencent, in each case at the clearing price of the above secondary placement. (sl/u)~ AASTOCKS Financial News Website: www.aastocks.com This article was automatically translated by AI, the Chinese version should be considered the authoritative version. AASTOCKS.com Limited does not guarantee its accuracy or completeness and accepts no liability for any damages or losses arising from the use of this translation. | |