Bilibili Inc. announced the completion of its US$500 million marketed offering of convertible senior notes due 2031, along with a concurrent equity placement and a delta repurchase. The company repurchased 6,795,540 Class Z ordinary shares at the reference price of HK$115.38 per share as part of the Concurrent Delta Repurchase, which is one component of a separate special share repurchase program of up to US$300 million. The Concurrent Equity Placement, totaling 33,351,660 Class Z ordinary shares, included 6,976,760 shares borrowed from third parties and 26,374,900 shares sold by a Tencent subsidiary. The company also repurchased approximately US$100 million of its shares in the overall transaction, while Tencent's subscription for an additional US$200 million in notes and the company's repurchase of approximately US$200 million of shares from Tencent remain subject to shareholder approval at an extraordinary general meeting.
Bilibili IncBilibili completes $500M convertible notes offering and concurrent share repurchases, raising capital and returning value.
Tencent Holdings LtdTencent subscribes to $200M additional notes and sells shares, indicating financial involvement.
