Raising funds: A NIO Inc EP9 electric sports car is on display at the Auto Shanghai 2019. NIO Inc, a Chinese competitor to Tesla, sold US$650mil of convertibles in February, months after pricing its US IPO near the bottom of a marketed range. — Bloomberg
CHINESE technology companies are tapping the convertible bond market at an unprecedented pace.
Companies from the industry have raised a record US$3.4bil in convertible bond sales this year, nearly double the total during all of 2018, according to data compiled by Bloomberg. Netflix-style streaming service iQiyi Inc and the country’s top anime site, Bilibili Inc, were among the latest sellers.
Already a subscriber? Log in.
Limited time offer:
Just RM5 per month.
Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!
