Meituan delivers $10bn share sale, CB combo to hungry Asian equity investors

By Jonathan Breen
22 Apr 2021

Meituan, a Chinese food delivery company, raised $10bn this week from a combined equity placement and convertible bond issue. Investors flocked to the deal for the investment grade rating and the offer of a highly liquid and volatile stock. Jonathan Breen reports.

The overnight sale of primary shares and a dual-tranche convertible bond allowedMeituan to raise money it needs to invest in new technologies, including autonomous and drone delivery vehicles. But bankers are looking for their next deals — seeing Meituan’s success as proof of the huge opportunities for ...

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