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The tripling of Chinese e-commerce firm Pinduoduo’s shares this year did little to deter investors from pouncing on its follow-on and convertible bond outing. It raised about $5.3bn from the combined transactions, paving the way for further expansion and growth.
Chinese e-commerce giant Pinduoduo has kicked off a multi-billion-dollar equity fundraising exercise, taking advantage of a sharp rally in its share price this year to aim for as much as $4.85bn.
Flag-carrier Singapore Airlines issued a S$850m ($629.6m) convertible bond this week, taking advantage of a surge in equity markets to signal confidence to investors.